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Russian State Duma ratifies the EEU treaty

26.09.2014, 14:53
Russia’s State Duma has ratified the Eurasian Economic Union (EEU) treaty with 441 votes for and one abstention, the Prime reports.

Russian State Duma ratifies the EEU treaty
YEREVAN, September 26. /ARKA/. Russia’s State Duma has ratified the Eurasian Economic Union (EEU) treaty with 441 votes for and one abstention, the Prime reports.

The treaty signed by the presidents of Russia, Kazakhstan and Belarus on May 29 2014 envisages free movement of goods, services, capital and labor force and coordinated economic policies.

The managing bodies of the union are Supreme Eurasian Economic Council, Eurasian Intergovernmental Council, Eurasian Economic Commission and the EEU Court. The budget will be formed in Russian rubles from member-countries’ fees. The fee size will be determined by the Supreme Council.

Russian is the working language of the EEU. The headquarters will be located in Moscow, the EEU Court in Minsk and the financial regulator in Alma-Ata.

Head of committee on CIS affairs and Eurasian integration Leonid Slutsky said the EEU will become “the main obstacle on the way to unipolar world”.

The EEU treaty will come into force on January 1, 2015. –0--