V.Putin signed the law limiting UAH circulation in the Crimea
On May 27, 2014, Vladimir Putin, President of the Russian Federation, signed the Federal Constitutional Law "On Amendments to the Federal Constitutional Law "On accession of the Republic of Crimea to the Russian Federation, and formation of new subjects in the Russian Federation – the Republic of Crimea and the federal city of Sevastopol".
In particular, the Law settles that circulation of the national currency of Ukraine (UAH) and settlements in UAH throughout the reporting territories is allowed until June 1 of the current year.
In addition, the Bank of Russia is authorized to adopt the binding acts not provided for by the Federal Law "On the Central Bank of the Russian Federation (Bank of Russia)", which are not subject to the state registration in the order prescribed for registration of the regulatory legal acts of the federal executive bodies.
The State Duma of the Russian Federation approved the Law on May 16, and the Federation Council - on May 21, 2014.
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