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Speaker: Crimea to use both ruble and hryvnia for some time if autonomy joins Russia

March 10, 2014, 16:48 UTC+3 SIMFEROPOL
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SIMFEROPOL, March 10, 16:36 /ITAR-TASS/. In case the Autonomous Ukrainian Republic of Crimea joins Russia and switches over to the Russian ruble, both the ruble and the Ukrainian currency hryvnia would be used for some time, the Crimean parliament speaker said Monday.

“I think circulation of two currencies is a necessary intermediate stage, because people have many hryvnias. The hryvnia will circulate for some time for people not to have problems. It will be three months if necessary or half a year,” Crimea Supreme Council chairman Vladimir Konstantinov told an Itar-Tass correspondent.

Earlier today, Crimean Prime Minister Sergey Aksyonov said the autonomy’s authorities planned to present on Tuesday a draft outlining the procedure of switching over to the Russian ruble.

Ukraine’s president, Viktor Yanukovich, was ousted in an armed uprising in February. The Ukrainian parliament appointed an interim head of state and approved a new government, which Crimea, where most residents are Russians, and Russia do not recognize.

Crimea’s Supreme Council on March 6 decided that the republic would secede from Ukraine and become part of Russia. The issue was put to a referendum that would take place on March 16.

In the Soviet Union, Crimea used to be part of Russia until 1954, when Nikita Khrushchev, the first secretary of the USSR’s Communist Party, transferred it to Ukraine's jurisdiction.

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