Agreement between the Government of the Russian Federation, Central bank of the Russian Federation and Government of the Republic of Byelorussia, National Bank of the Republic of Byelorussia on measures for creation of conditions on introduction of single monetary unit

of November 30, 2000

The government of the Russian Federation and the Central bank of the Russian Federation, on the one hand, both the Government of the Republic of Byelorussia and National Bank of the Republic of Byelorussia, on the other hand, hereinafter referred to as with the Parties, for the purpose of implementation of the Agreement between the Russian Federation and the Republic of Byelorussia about introduction of single monetary unit and forming of single emission center of the Union State agreed with following:

Article 1

This agreement determines the main approaches by creation of necessary conditions for use since January 1, 2005 of ruble of the Russian Federation as the single legal means of payment in the territory of the Union State.

Article 2

For the purpose of carrying out step-by-step transformations in the economic, financial and monetary spheres of the Russian Federation and the Republic of Byelorussia sufficient for creation of conditions on introduction of single monetary unit, the Party accept the Basic elements of the Joint action plan on introduction of single monetary unit of the Union State for 2001-2005 which is subject to development according to article 10 of the Agreement between the Russian Federation and the Republic of Byelorussia about introduction of single monetary unit and forming of single emission center of the Union State which are integral part of this agreement (are applied).

Article 3

As first-priority measures of the Party agreed to perform the following events:

in 2000:

a) eliminate plurality of the exchange rate of Belarusian ruble;

b) lift all limits for carrying out payments in national currencies between residents of the Russian Federation and the Republic of Byelorussia on current transactions;

in the first quarter 2001:

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