MIL OSI Translation. Region: Russian Federation –
The discussion was focused on the formation of common energy markets in the EAEU countries.
Deputy Prime Minister Alexander Novak and Chairman of the EEC Board Mikhail Myasnikovich discussed the drafting of international treaties on creating common energy markets in the Eurasian Economic Union (EAEU). They also exchanged views on current issues of Eurasian integration in the oil and gas sector.
Earlier, the heads of state of the Eurasian Five endorsed the concept and program for creating a common market for oil products in the EAEU. A similar package of documents was adopted for a common gas market. The next important step will include the EAEU countries signing international treaties on creating common markets for gas, oil and oil products. This is necessary for developing a common legal system for launching these markets.
In working to create these markets and harmonize each country’s respective laws, the experts take into account the fundamental principles envisaged by the EAEU Treaty. Common markets in this sector are expected to open on January 1, 2025.
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.