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. Last Updated: 07/27/2016

Belarus Ruble Use In Doubt

An official communique on a Russian-Belarussian summit on Wednesday made no mention of a recent agreement for monetary union and a single currency, raising doubts about whether the deal will go ahead.

The statement said that President Boris Yeltsin and Belarussian leader Stanislav Shushkevich had discussed economic cooperation between the two former Soviet republics.

The two sides needed to work out a new treaty on cooperation aimed at building "democratic states with socially oriented market economies," it said. But it gave no details.

Nobody at Yeltsin's office or at the Belarussian Embassy in Moscow was available for comment.

The agreement to merge monetary systems and let Belarussians use Russia's ruble currency was reached last week between the two countries' prime ministers. But economists and Belarus Central Bank officials have criticized the deal.

Belarus currently uses its own transitionary ruble currency which traded at 4.1 to the Russian ruble on the Minsk exchange this week.