Crimea Switches Over to Russian Rouble

World | June 1, 2014, Sunday // 11:16| Views: | Comments: 5
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Bulgaria: Crimea Switches Over to Russian Rouble Photo by EPA/BGNES

Crimea is switching over to the Russian rouble (ruble, RUB) as of June 1.

On May 27, Russian President Vladimir Putin signed a decree which reduced the transition period for the circulation of the hryvnia (UAH) in Crimea and Sevastopol by June 1, 2014, thereby making the rouble the only legitimate currency according to reports of ITAR-TASS.

Initially, after the annexation of the region by Russia, the hryvnia was supposed to circulate alongside with the rouble until January 1, 2016.

All non-cash transactions carried out on the Black Sea peninsula have been made in roubles since May 6.

As of Sunday, all double price tags in shops will disappear and cash payments and noncash settlements will be made in roubles.

The Ukrainian hryvnia will have the status of a foreign currency.

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Tags: Russian ruble, Crimea, hryvnia, annexation
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» To the forumComments (5)
sa-sha - 2 Jun 2014 // 12:07:05

"Russian legislation is more...backward than even the Ukrainian"---"even" ? ;-).....what about the ONLY ONE fact to prove such a great assertion?
...and, btw, "Joining Russia" is not "quite", but VERY popular among the absolute majority of Crimeans, of ALL nationalities: “Crimean residents are almost universally positive toward Russia. At least nine-in-ten have confidence in Putin (93%) and say Russia is playing a positive role in Crimea (92%)” /Pew Research Center, Washington, D.C./:

Seedy - 2 Jun 2014 // 05:42:50

At least the people there will now live longer - thanks to their reduced food intake and the exercise they'll get from standing in bread queues for days at a time......

alex24 - 2 Jun 2014 // 02:53:05

How one can be so blind?

P.S. What about to visit a therapist?

Warfou - 2 Jun 2014 // 01:24:44

Joining Russia was quite popular among many Crimeans, mainly of Russian origin, at first. They associated it with higher salaries and thought that they will live better. Now problems emerge. Russian legislation is more strict and backward than even the Ukrainian. Foolish embargo on Ukrainian agriculture production has cleaned the shelves in supermarkets. The increases of salaries in governmental institutions are followed by a very high inflation as Ukrainian goods are being withdrawn and their Russian equivalents are more expensive and often of a worse quality and limited choice. The unemployment is rising, many accountants, tax advisors, bank officials and lawyers who are trained in Ukrainian law are being dismissed and exchanged against Russians from Moscow or Petersburg. The Tatars, who are truly historical owners of this land, are persecuted and refused even the right to demonstrate, their leader Mustafa Dzhemilev has no right to enter his homeland. The Ukrainian tourists are not coming, and also the Russians themselves prefer their hitherto locations over Crimea. The Russian government tries to subsidise flights to Sevastopol to increase tourist traffic from Russia but it won't help much as there is no land link with Russia and flights are of limited capacity due to primitive infrastructure, lack of modern airports and overdated and used off ferry link to Russian Kerch.

Rouble Trouble - 1 Jun 2014 // 21:31:52

The poor people of the Crimea. First, Putin invades militarily and strips them of their rights, freedom, and humanity. Now, he is going to bankrupt them. I wonder how much profit he and his cronies will make from the currency exchange. Any guesses?

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