Russian political expert: Tigran Sargsyan prepares EEU for a single  currency 

ArmInfo. Chairman of the Eurasian Economic Commission Tigran Sargsyan is making consistent 

efforts to prepare the Eurasian Economic Union (EEU) for introduction of a single currency, Vladimir Lepekhin, Head of the EEU Countries' Institute, said.      

"I think this is the key mission of quite a gifted Armenian financial 

expert. As a rule, such processes are rather complicated and their 

successful completion needs at least 50 years," he said, adding that 

the EEU will probably have a single currency by 2025.      

Stressing the importance of creation of a single currency in the EEU 

space, Lepekhin pointed at the serious work being done in the 

Eurasian Economic Commission to that end. He noted that the creation 

of the common currency in the EEU will become possible due to 

hundreds of serious events, part of which has already been 

implemented. 

As regards the lack of progress in Armenia's economic development 

over the 2 years since Yerevan joined the EEU, Lepekhin says that 

Russia itself and other members of the EEU have also experienced hard 

times. 

"Armenia joined the EEU in the quite a hard economic period for 

Russia - decline in oil prices, Ruble depreciation, western economic 

sanctions against Russia - the period when the Russian budget lost 

1/3 of its revenues. This could not help having a negative effect on 

the other EEU member states, including Armenia," he stressed.      

In this light, the Russian expert thinks that one should not expect 

any instant positive changes from Armenia's EEU membership. However, 

he is convinced that a number of development programs planned within 

the frames of long-term cooperation will have a positive effect on 

the Armenian economy.