ABSTRACT
After the break up of the Soviet Union, Belarusian officials frequently declared their readiness for economic and political integration with Russia up to creation of a common state. In April 1996, Belarus and Russia signed an agreement on the establishment of a Political and Economic Community; in April 1997, the Community was transformed into the Union. On 30 November 2000, in the context of economic integration between the two countries, state agreements ‘On introduction of a common currency and creation of a common emission centre of the Union State’ and ‘On measures of creating conditions for the introduction of a common currency’ were signed. However, attempts to implement the abovementioned agreements in practice have shown that Belarus is not ready both politically and economically for a closer integration with Russia, in particular for introduction of the Russian rouble as a legal tender. Despite the political claims of Belarusian authorities on their adherence to the principles of economic integration, the issue of introduction of the Russian rouble as a common currency on Belarusian territory still remains open.
