An agreement between the Russian and Ukrainian governments on cooperation in the operation of the main oil product pipelines was terminated, a report posted on the Cabinet’s website says.
It noted that the agreement signed in 1995 envisaged that the oil product pipelines Samara-Western direction and Grozny-Armavir-Trudovaya passing through Ukraine’s territory is operated by the subsidiaries of JSC Transnefteproduct [100% of the company’s ordinary shares are part of Transneft’s equity capital].
It is specified that the agreement regulates certain aspects of the operation of the main oil pipelines, TASS reports.
"In February 2016, the sections running through Ukraine’s territory were sold by Transneft to Swiss company International Trading Partners AG. The deal was approved by Russia’s Federal Antimonopoly Service on October 16, 2015, and by Ukraine’s Antimonopoly Committee on December 22, 2015. In view of this, the Russian side’s involvement in the Agreement is inexpedient," an explanatory note to the document said.