Cash Circulation in the Donetsk People’s Republic and the Luhansk People’s Republic in 2014-2022

The article examines cash circulation in the Donetsk People’s Republic and the Luhansk People’s Republic in 2014-2022. The results of the analysis of regulatory legal acts of the DPR, LPR, the Russian Federation, Ukraine, and the European Union are presented. Particular attention is paid to banknotes that constituted paper money circulation in the territories of independent republics after the adoption of the first regulatory legal acts governing the organization of money circulation and the introduction of a multicurrency system using the Ukrainian hryvnia, Russian ruble, US dollar and euro. The author highlights the similarities and differences in the organization of money circulation in the territories of the Donetsk People’s Republic and the Luhansk People’s Republic, due to different approaches to the design of regulatory legal acts. The article accumulates information on the organization of money circulation in the territories of the DPR and LPR, contained in regulatory legal acts, which is also compared with information of significance for bonists (in terms of determining the composition of paper money circulation), which makes the article unique due to the lack of research and comprehensive sources of information on this topic. The author emphasizes the importance of understanding the strategy for organizing money circulation chosen by new players on the political map of the world.