Eurasian Economic Union Treaty to be signed in May - Russia's Deputy PM

Friday, April 11, 2014

Altyn Silver coins from the era of Peter the Great -- 1711

The treaty establishing the Eurasian Economic Union will be signed by the leaders of Russia, Belarus and Kazakhstan in May, Russian First Deputy Prime Minister Igor Shuvalov said Thursday.

"The presidents of the three countries are determined to ink the treaty, which will come into force as early as January 1, 2015.

The Eurasian Economic Union aims to pursue extensive economic relations with the EU including the possibility of establishing a "common economic space and even a free trade zone," the deputy prime minister said.

In 2011, the presidents of Belarus, Kazakhstan and Russia signed an agreement, setting a target date of 2015 for launching the Eurasian Union, an economic union made up by post-Soviet states.

Kyrgyzstan and Tajikistan have already expressed interest in joining the organization.

Current members of the Customs Union have also decided to speed up the introduction of the planned common currency called "Altyn”. According to original plans, "Altyn" was about to become a reality in 2025, but because of Western sanctions imposed on Russia the leaders of the three countries have agreed that they introduce it as early as 2020.

Altyn is a historic Russian currency. The name (originally "alti") means “six” in Tatar.

(the Voice of Russia – – edited by


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