EAEU launches second phase of forming common markets for oil and petroleum products

 The countries of the Eurasian Economic Union (EAEU) are switching to the second phase in the development of the common markets for oil and petroleum products. The matter was agreed upon at the extended session of the Supreme Eurasian Economic Council in Minsk on 14 October.

According to Mikhail Myasnikovich, Chairman of the Board of the Eurasian Economic Commission (EEC), the issue of transition to the second stage of forming common markets for oil and petroleum products was considered and approved at the meetings of the board and council of the EEC.

This issue, among others, was adopted by the EAEU leaders without any discussions. They also approved amendments to the list of sensitive goods, in respect of which the decision to change the import customs duty rate is made by the EEC Council, and also signed a number of other working documents.