Repeated extension of the state regulation of prices is allowed for another 60 calendar days, but upon consultation with the Commission.
Therefore, the maximum period of applying the state regulation of prices for one type of socially relevant goods cannot exceed 240 calendar days within 12 months. Along with that, the regulation period can be discontinuous or continuous.
In this regard, the procedure specifies the process of sending the EAEU States’ appeals to the Commission on extending the price regulation introduced earlier and on disagreement with the decision adopted by another Member State on introducing or extending the state regulation of prices. Besides, the procedure determines the process of reviewing such appeals and adopting relevant decisions by the Commission.
According to Bakhyt Sultanov, EEC Minister in charge of Competition and Antitrust Regulation, the new procedure will enable optimizing procedural aspects associated with such an exceptional measure applied by the States as state regulation of prices."Today's decision of the EEC Board shall become effective on or after enacting the amendments to the Treaty on the EAEU contemplated by the Protocol, which is undergoing the ratification procedure in the Union countries", the EEC Minister noted.