Russia to Promote Ruble Circulation in Kherson Starting Next Year

[Image source=Yonhap News]

[Asia Economy International Department Reporter] Russian authorities plan to end the circulation of the Ukrainian currency hryvnia in the occupied Kherson region by January 1 next year and introduce the Russian ruble, CNN and others reported on the 10th (local time).

The Kherson administration established by Russia announced through a video posted on Telegram that before ending the circulation of the hryvnia currency in the occupied area, they have begun exchanging it for rubles.

Kherson is a strategic key point connecting the Crimean Peninsula, forcibly annexed by Russia in 2014, and the Donbas region controlled by pro-Russian rebel forces, where both armies have clashed for a long time.

Andrey Peratonkin, head of the Kherson branch of the Russian Central Bank, explained that banks in Kherson started currency exchange operations this week to facilitate smoother economic integration. Previously, Russian authorities had announced that both rubles and hryvnias could be used in the Kherson region.

The Russian military seized most of the Kherson region in the early stages of their invasion of Ukraine in late February and declared annexation through a referendum in September. However, Ukraine has recovered more than half of the occupied territory, and last month Russia withdrew from Kherson city.

This content was produced with the assistance of AI translation services.