Belarus lower house ratifies Eurasian Economic Union treaty

Deputies in the Belarus House of Representatives ratified the Treaty on the Eurasian Economic Union on Thursday, now due for immediate debate in the upper house before reaching the president for signature, ITAR-TASS reports.

Speaking in parliament, International Affairs committee head Nikolai Samoseiko prioritised an end to barriers and restrictions within the union, notably in the energy and automotive industries. Minsk has linked the treaty’s ratification with settlement of a Russian tax move in the oil industry that could have cost Belarus more than $1 billion, according to estimates.

The two states agreed on October 7 that all export customs duties on oil products made from Russian oil and delivered from Belarus to third countries in 2015 would be transferred to the republican budget.

Earlier today Kazakhstan’s upper house of parliament adopted a law ratifying the treaty on the Eurasian Economic Union.

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