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We discuss the main points of the quantum group approach in the theory of quantum integrable systems and illustrate them for the case of the quantum group $U_q(\mathcal L(\mathfrak{sl}_2))$. We give a complete set of the functional relations correcting inexactitudes of the previous considerations. A special attention is given to the connection of the representations used to construct the universal transfer operators and $Q$-operators.
preprint / 2012