Russia, Kyrgyzstan sign duty-free oil supply deal
Jun 06, 2016 12:00 AM
Russia and Kyrgyzstan signed an agreement on cooperation in the duty-free supply of oil and petroleum products on Monday.
The deal has been sealed during Russian Prime Minister Dmitry Medvedev's visit to Kyrgyzstan.
According to the agreement, Russia will not impose export duties on oil and petroleum products supplied for the domestic consumption, its volume to be decided before the year-end.
Standard Eurasian Economic Union's (EEU) duties will be paid on all the supplies over the agreed volume. Re-export to the third countries will be prohibited as well, including on those goods imported to Kyrgyzstan from other EEU members.
According to the Russian Ministry of Economic Development, Russia is the largest Kyrgyzstan's import partner, accounting for 35 percent of its imports.
Oil and petroleum products constitute 51.9 percent of Kyrgyz imports from Russia.
