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Ukraine's self-proclaimed Donetsk republic may allow circulation of major world currencies

February 03, 2015, 14:49 UTC+3 MOSCOW

Circulation of different currencies may be allowed due to Kiev's economic blockade of Donbas

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© ITAR-TASS/Igor Kubedinov

MOSCOW, February 3. /TASS/. The self-proclaimed Donetsk People’s Republic may allow the circulation of leading world currencies on its territory, the republic’s finance ministry said on Tuesday.

The decision may be taken due to Kiev’s economic blockade of the Donetsk People’s Republic, the ministry said.

"Ukraine has imposed full economic blockade of the republic. In these conditions, our cash inevitably leaves the republic’s territory, which leads to its artificial shortage," the ministry said.

An artificial cash money shortage has a negative impact on very diverse spheres of life in the Donetsk People’s Republic, it added.

"Today we can state that along with the hryvnia, which remains the basic means of payment, other currencies available to citizens like pounds, dollars, the yuan, the [Japanese] yen and euros may be allowed for circulation on the territory of the republic," the Donetsk news agency quoted the finance ministry as saying.

Self-proclaimed Luhansk People’s Republic Prime Minister Gennady Tsypkalov earlier said the circulation of major world currencies might be allowed on the territory of the republic along with the hryvnia.

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