(TELEGRAPH)—Vladimir Putin proposed on Friday creating a regional currency union with Belarus and Kazakhstan, Russia's partners in a political and economic union made up of former Soviet republics.
Mr Putin made his proposal at a meeting with the Belarussian and Kazakh presidents which highlighted the challenges facing the Russian-led Eurasian Economic Union following the fall in global oil prices and the decline of the Russian rouble.
"The time has come to start thinking about forming a currency union," Mr Putin said after the talks in the Kazakh capital Astana with Belarussian President Alexander Lukashenko and Kazakh President Nursultan Nazarbayev....
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