Support The Moscow Times!

Ukraine's Breakaway Luhansk Republic Declares Ruble Official Currency

The self-proclaimed Luhansk People's Republic will adopt the Russian ruble as its official currency on March 1.

The Luhansk government, which currently uses rubles unofficially alongside the Ukrainian hryvnia, claimed that the change would help to stabilize the breakaway republic's volatile economy.

The republic's state bank will make daily announcements on the rate of the ruble against the U.S. dollar, euro, and hryvnia as part of the deal.

Russian President Vladimir Putin signed an executive order to officially recognize passports issued the Luhansk and Donetsk People's Republics on Saturday.

Russia will also begin to recognize education documents, certificates recording births, deaths, marriages, and divorces, and automobile registrations.

This decision follows reports earlier this month by the RBC news agency that Russian border authorities were already accepting identification papers unofficially.

Sign up for our free weekly newsletter

Our weekly newsletter contains a hand-picked selection of news, features, analysis and more from The Moscow Times. You will receive it in your mailbox every Friday. Never miss the latest news from Russia. Preview
Subscribers agree to the Privacy Policy

A Message from The Moscow Times:

Dear readers,

We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."

These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.

We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.

By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more