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02.11.2022 (Обновлено: 08.11.2022 10:51)

EEC amended Procedure for reviewing appeals from EAEU countries on disagreement with state regulation of prices

The EEC Board has approved a new Procedure for reviewing the EAEU State's appeal by the Commission on disagreement with the decision adopted by another Member State on introducing or extending the state regulation of prices for socially relevant goods. These amendments are contemplated by the "Second Major" Protocol on amending the Treaty on the EAEU, which lays down a new mechanism for introducing and extending the state regulation of prices in the Eurasian "five" countries.
The new mechanism provides for three stages instead of the current two-stage procedure for introducing the state regulation of prices. At the first stage, the Member State can introduce the state regulation of prices for up to 90 calendar days at its own discretion. In future, the state regulation can be extended for another 90 calendar days, if required. Both the introduction and the extension are for indication purposes, i.e. it is sufficient to inform the Commission and other sides thereof in a timely manner.

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.