Some while two currencies will circulate in the peninsular
Since March 24, 2014 the Russian ruble will be officially used in Crimea. In conformity with the established federal constitutional law of the Russian Federation on annexation of Crimea, the national currency of Russia will be used for all offsets provided that one of the parties is a resident of Russia, RBK-Ukraine (РБК-Украина) reports.
The Russian ruble becomes an official currency in the territory of Crimea and Sevastopol city.
However, until the 1st of January, 2016 the circulation of the national monetary unit of Ukraine – hryvnia, will continue to be used for settlements, in both cash and for cashless payments. After the said date the ruble will be the only legitimate currency in the region.
