Crimea to use rouble and switch to Russian time

Crimea vote

SIMFEROPOL -- The newly-proclaimed Republic of Crimea has decided to use Russian roubles as official currency while the Ukrainian hryvnias will continue to circulate till Jan. 1 of 2016.

The Peninsula of Crimea has also decided to switch to Russian time by moving the clock forward two hours by March 30, according to a resolution approved by the new republic's legislature Monday.

The peninsula, however, will keep the existing Ukrainian budget and tax codes until Crimea formulates its own related regulations, the resolution said.

Crimea on Monday decided to change its name from the Autonomous Republic of Crimea to the Republic of Crimea after proclaiming independence, which Russia has recognized.

Crimea has changed the name of its legislature from the Crimean Supreme Council to the Parliament of the Republic of Crimea.

After the dissolution of the Soviet Union, Crimea stayed with Ukraine in 1991 as the Republic of Crimea before Ukraine later changed its name.

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