Tatarstan

Tatarstan is a republic of Russia that lies between the Volga and Kama rivers in Eastern Europe, stretching to the Ural Mountains. It neighbors the oblasts of Kirov, Samara, Ulyanovsk, and Orenburg, the Republic of Bashkortostan, and the Mari El, Chuvash, and Udmurt republics. Established in 1920, it remained a Russian federation republic even after the Soviet Union split up in 1991.

Tatarstan has a diverse economy that relies heavily on agriculture, industry and the production of petroleum. In 1943, its first oil rig was exploited, with pipelines running from the oil wells at Almetyevsk. Meanwhile, the center of its natural gas production is in Nizhnaya Maktama and its chemical industry is in Kazan, Nizhnekamsk, and Mendeleyevsk. ITs agricultural staple products are wheat, millet, potatoes, tobacco, dairy products, corn, legumes, and livestock.

The republic’s economy operates within the Russian Federation economic system.  On August 30, 1990, the republic declared its sovereignty as the Tatar Soviet Socialist Republic and the 1992 constitution stated Tatarstan as a sovereign state. However, the constitution wasn’t recognized by the Russian Constitutional Court. Later, a new constitution declared the state as a Russian Federation republic.

After the declaration of sovereignty, Russian rubles were spreading across Tatarstan. In an attempt to take control of its economy, Ruble Support Coupons were issued. The government also issued currency checks intended to raise the low-income earners’ standard of living. These checks are in bluish-gray, red, and yellow colors and could be redeemed at certain shops. They can be exchanged only for food with no change in return. These checks feature the Tatar flag and the Suumbeky castle. As these notes were not legal tender, they don’t reflect the denomination. The last issues of Tatarstan banknotes were released in 1996 bearing entirely new designs on the obverse and reverse sides. Additionally, the state’s name appears in two Cyrillic scripts.

 

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