In this paper, we extend Drinfeld's current realization of quantum affine a
lgebras U-q((g) over cap) and of the Yangians in several directions: we con
struct current operators for non-simple roots of g, define a new braid grou
p action in terms of the current operators, and describe the universal R-ma
trix for the corresponding "Drinfeld" comultiplication in the forms of an i
nfinite product and of certain integrals over current operators.