Russia Considers Kazakh Idea of Unified Currency

Kazakh President Nursultan Nazarbayev's suggestion would not mean replacing national currencies with an equivalent of the euro, but would create a non-cash currency for interstate transactions within the grouping of Russia, Belarus, Kazakhstan, Tajikistan and Kyrgyzstan.

Nazarbayev suggested calling the electronic currency the "euras" or the "eurasia."

"I think that objective consideration of the proposal of Kazakhstan will take place within the limits of EurAsEC. This idea, certainly, will receive development," Sergei Lavrov said at a news conference after a meeting with his Kazakh counterpart, Marat Tazhin.

Author: Ksenia Kochneva