News

Mikhail Myasnikovich, Chairman of the EEC Board, and Alexander Novak, Deputy Prime Minister of the Russian Federation, discussed preparing international treaties on unified energy markets to be created in the Eurasian Economic Union. The sides also exchanged views on relevant matters of the Eurasian integration in the oil and gas sector.

It bears reminding that earlier, the EAEU Concept and Program for establishing common markets for oil and petroleum products were approved at the level of the Heads of State of the Eurasian "five" countries. The same package of documents has been adopted for the common gas market. Adopting international treaties on forming the EAEU common markets for gas, oil and petroleum products will become the next important stage. This is required to build a common legal system for starting the markets.

The work on forming common markets and harmonizing national legislation is carried out with due regard to the basic principles provided for by the Treaty on the EAEU. The common markets should start operating since January 1, 2025.