EAEU Common Market for Petroleum Products Pushed Back to 2030
Draft amendments to Kazakhstan's Tax Code indicate the price equalization mechanism for oil products is not currently needed, according to a report by TASS.
The creation of a common market for petroleum products within the Eurasian Economic Union (EAEU) has been postponed until 2030, according to a report by Russian state news agency TASS.
TASS cited draft amendments to Kazakhstan's Tax Code as the basis for the postponement, noting that the text of the amendments states there is currently no need to apply a price equalization mechanism for petroleum products.
The price equalization mechanism has been considered a component of efforts to harmonize markets among EAEU member states, which include Russia, Kazakhstan, Belarus, Armenia and Kyrgyzstan.
TASS did not provide further details in the excerpt regarding the specific reasons cited in the draft amendments for the delay, nor did it specify additional timelines or steps expected before 2030.
The report did not include statements from other EAEU member states or from the Eurasian Economic Commission regarding the postponement.
Sources
EGazette summarizes reporting from multiple sources; follow the links for the originals.
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