“Fewer time zones may help solve transport and communication problems and strengthen Russia’s position in the global information infrastructure,” Medvedev said. “There is also a proposal from the Russian Academy of Sciences to unite the time zones of Siberia and Ural. This is an option, but we should consider all the possible consequences: medical and economic.”

Yaroslav Lissovolik, chief economist from Deutsche Bank, believes that one of the most obvious benefits of the change is integration.

“The reduction in the number of time zones will allow for a smoother administrative policy making across the county. With more than 80 regions in Russia in administrative terms it’s very difficult to implement decisions, to adopt decisions. The reduction will make it somewhat easier,” Lissovolik said.

“There might also be some benefits for financial activity as the operations of financial markets will be synchronized,” he added.

Extract from RT News Website.