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Both Rouble & Hryvna to Circulate in Crimea After Accession to Russia
11.03.2014 12:37
Both Rouble & Hryvna to Circulate in Crimea After Accession to Russia
Photo Credit: Tatyana Rikhtun

Crimea is expected to use two currencies for some time after joining Russia, said the chairman of the Crimean legislature.

      According Vladimir Konstantinov, both the rouble and the hryvna must be allowed to circulate because the population has accumulated a lot of hryvnas.

      However, in case the Crimean populated votes for the accession to Russia on the March 16 referendum, the salaries will be paid in roubles.

      Vladimir Konstantinov also announced that 80 percent of the local population favoured accession to Russia.

      Konstantinov cited the results of the focus groups conducted a week before the referendum that is expected to decide the future of the peninsula in Ukraine with a large ethnic Russian majority.

      According to Konstantinov, the republic can sustain itself with any support from Kiev.

      He accused the current regime of blocking the accounts of the local treasury which has left the autonomous republic financially stranded.

      Konstantinov said they are working on developing alternative energy sources and expect support from Russia.

      Earlier today, Russian Foreign Minister Sergey Lavrov announced that his counterpart, US Secretary of State John Kerry, had postponed his visit to Russia where he was supposed to continue consultations on the possible solution to the Ukraine crisis.

      Secretary of State John Kerry issued a diplomatic ultimatum to his Russia counterpart, Foreign Minister Sergey Lavrov, according to a senior U.S. administration official.

      "He made clear that continued military escalation and provocation in Crimea or elsewhere in Ukraine, along with steps to annex Crimea to Russia would close any available space for diplomacy, and he urged utmost restraint," the official was quoted by CNN as saying.

      Kerry said the United States is ready to work with allies to facilitate a Ukraine-Russia dialogue, the official said.

      Follow Russia-IC for more news on the Ukraine crisis.


Author: Mikhail Vesely

Tags: Crimea Ukraine crisis    

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