Work is in progress on international agreements on setting up common markets of oil oil products, and natural gas in the Eurasian Economic Union.

Work is in progress on international agreements on setting up common markets of oil, oil products, and natural gas in the Eurasian Economic Union. Iya Malkina, Aide to the Chairman of the Board of the Eurasian Economic Commission, made the relevant statement at a media briefing on 7 October, BelTA has learned. According to the source, the Eurasian Economic Commission and the EAEU member states are implementing the first stage of establishment of the common markets of oil and oil products. The organizational and methodic foundation for setting up these markets is supposed to be created as part of the effort. In particular, the Eurasian Economic Commission and the member states have drafted an international agreement on setting up the Eurasian Economic Union’s common markets of oil and oil products and on universal rules of access to the systems designed to transport oil and oil products. The experts of the relevant authorities of the EAEU member states are discussing the draft documents now. The first stage of establishment of the common natural gas market is being implemented as well. Russia is working on an international agreement on forming the Eurasian Economic Union’s common natural gas market, universal rules of access to the natural gas transportation systems, which are located in the EAEU member states, and the natural gas exchange trade procedure.