Published on Sep 2, 2015
Russian President Vladimir Putin has drafted a bill that aims to eliminate the US dollar and the euro from trade among member states of the Commonwealth of Independent States. A statement from the Kremlin says Putin submitted to the State Duma the draft federal law which seeks an integrated currency market in the CIS. The statement said the bill would help facilitate trade in the region and achieve macro-economic stability. Russian officials say using Western currencies could seriously increase the risks associated with trade, especially at a time when the US and its European allies are in a political row with Moscow over the ongoing deadly conflict between Kiev forces and pro-Russians in eastern Ukraine.