President Vladimir Putin on Wednesday said Russia should accelerate the work aimed at achieving the full convertibility of the Russian currency ruble by July 1.

"In the 2003 address, I put forth the task of switching to the full convertibility of the ruble. Certain plans were made and I should say that they are being carried out. Today, I propose accelerating the abolishment of the remaining restrictions and completing this work by July 1, 2006," Putin was quoted by the Interfax news agency as saying in his annual state of the nation address.

Source: Xinhua