Donetsk People’s Republic Likely to Remain Formally Unrecognized: DPR Prime Minister

DONETSK, October 18 (RIA Novosti) - The self-proclaimed Donetsk People’s Republic (DPR) is unlikely to be recognized by the international community, DPR Prime Minister Alexander Zakharchenko said Saturday.

“We can no longer live in one state with Ukraine. Most likely, we will stay unrecognized. One the one hand, this seems bad. On the other hand, it is very good for the economy. Being unrecognized means more money. This means no international obligations,” Zakharchenko said.

According to the minister, authorities of the self-proclaimed Donetsk People’s Republic are currently considering the creation of a multi-currency zone in the region, introducing “all currencies at once – hryvnia, rubles, dollars, euro, yuan”.

“This way, we will protect ourselves from cash outflow. Secondly, Ukraine will flinch. We will be independent from Ukraine and from the hryvnia,” Zakharchenko stated.

In April, residents of Luhansk and Donetsk regions in eastern Ukraine declared the establishment of people’s republics, refusing to recognize the new Kiev authorities which came to power following a February coup. The republics declared their sovereignty based on the results of referendums held in May.

The Ukrainian parliament has approved a law granting “special status” and self-administration to parts of the Donetsk and Luhansk regions, however, leaders of the self-proclaimed republics have stressed that they want full independence from Ukraine.

Source: RIA Novosti 18-10-2014