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FEDERATION COUNCIL APPROVES RUSSIAN-ARMENIAN AGREEMENT FOR SHIPMENTS OF GAS, PETROLEUM PRODUCTS, DIAMONDS
Interfax, Russia
June 25 2014
MOSCOW. June 25
Russia's Federation Council has passed a law to ratify an agreement
between Russia and Armenia for cooperation in shipments of natural gas,
petroleum products and rough diamonds to Armenia.
The agreement was signed on December 2, 2013 in Yerevan and foresees
Russia organizing duty-free shipments of petroleum products, natural
gas and rough diamonds prior to Armenia accession to the Eurasian
integrated space.
The competent authorities of both countries are agreeing on volumes
and nomenclature of the republic's domestic consumption of petroleum
products and natural gas for the coming calendar year. The two are
also confirming indicative balances.
Between economic entities of the Russian Federation and Armenia in
order to determine the order and shipment quantities diamond mining
companies in Russia rough diamond lapidary enterprises of the republic
are contracts.
Agreements are being signed between Russian and Armenian economic
entities to determine the procedures and volumes of rough diamonds that
Russian diamond producers will ship to Armenia's lapidary enterprises.
Russia does not charge export duties on petroleum products and natural
gas for domestic consumption volumes approved as part of the indicative
balances, as well as for diamonds shipped to Armenia.
Goods shipped from Russia duty-free are prohibited from being
re-exported to third party countries.
Russia's falling budget revenues from duty-free shipments of gas
will total roughly $180 million in 2014, while those from petroleum
products will be $150 million and from diamonds - $500,000, according
to a feasibility study for the document.
Interfax, Russia
June 25 2014
MOSCOW. June 25
Russia's Federation Council has passed a law to ratify an agreement
between Russia and Armenia for cooperation in shipments of natural gas,
petroleum products and rough diamonds to Armenia.
The agreement was signed on December 2, 2013 in Yerevan and foresees
Russia organizing duty-free shipments of petroleum products, natural
gas and rough diamonds prior to Armenia accession to the Eurasian
integrated space.
The competent authorities of both countries are agreeing on volumes
and nomenclature of the republic's domestic consumption of petroleum
products and natural gas for the coming calendar year. The two are
also confirming indicative balances.
Between economic entities of the Russian Federation and Armenia in
order to determine the order and shipment quantities diamond mining
companies in Russia rough diamond lapidary enterprises of the republic
are contracts.
Agreements are being signed between Russian and Armenian economic
entities to determine the procedures and volumes of rough diamonds that
Russian diamond producers will ship to Armenia's lapidary enterprises.
Russia does not charge export duties on petroleum products and natural
gas for domestic consumption volumes approved as part of the indicative
balances, as well as for diamonds shipped to Armenia.
Goods shipped from Russia duty-free are prohibited from being
re-exported to third party countries.
Russia's falling budget revenues from duty-free shipments of gas
will total roughly $180 million in 2014, while those from petroleum
products will be $150 million and from diamonds - $500,000, according
to a feasibility study for the document.