EEU prime ministers approve concept of common market of oil products

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Economy

20.05.2016, 17:16

Prime ministers of Armenia, Russia, Belarus, Kazakhstan and Kyrgyzstan, which make the Eurasian Economic Union (EEU), have approved at a meeting today in Yerevan a concept designed to form a common market of oil and oil products by 2025, according to deputy energy minister of Russia Anatoly Yanovsky.

EEU prime ministers approve concept of common market of oil products

YEREVAN, May 20. /ARKA. Prime ministers of Armenia, Russia, Belarus, Kazakhstan and Kyrgyzstan, which make the Eurasian Economic Union (EEU), have approved at a meeting today in Yerevan a concept designed to form a common market of oil and oil products by 2025, according to deputy energy minister of Russia Anatoly Yanovsky.

Russian news agency Finmarket said the common market is supposed to create conditions for an effective and non-discriminatory trade in oil and oil products, to eliminate barriers to entering the stock exchange, and to help exchange information.

Companies from EEU member countries will be able to produce, transport, process and market oil products in the territory of each country of the Union

According to Russian prime minister Dmitry Medvedev , "the concept is needed for creation of a common market of oil products with clear rules and principles of work.' 'This is something we are all interested in," Medvedev said .-- 0--

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