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EEU speeding up the establishment of unified oil market
Date: Click quantity: 121

Belarusian Deputy Prime Minister Peter rishenko said that the Eurasian Economic Union will complete the "agreement on the establishment of a unified oil and refined oil market" in 2021.

He said that the agreement on the establishment of a unified oil and refined oil market in the Eurasian Economic Union and the agreement on uniform regulations on oil and refined oil transport services are still under discussion, and the preparatory work before signing is planned to be completed in 2021. The Treaty of Eurasian Economic Union proposes to establish a unified market for electricity, natural gas, oil and refined oil. At present, the preparation for the establishment of the unified market is being actively carried out, and all parties of the alliance can reach a consensus on relevant issues. In 2020, Belarus, Armenia and Kyrgyzstan have deliberated and adopted the international treaty on the establishment of an alliance unified power market, and Russia and Kazakhstan are going through the domestic approval procedures.

He said that in November 2020, the supreme Eurasian Economic Council approved an action plan aimed at coordinating the oil legislation of EU Member States. It is a normal phenomenon that the member states of the alliance still have differences on individual issues. Other integration organizations have not yet established such a segmented market, and the laws of the member states of the alliance have their own characteristics.