ASTANA, Kazakhstan, July 7. Russian President Vladimir Putin has put pen to paper on a law that gives the green light to a protocol, breathing new life into the intergovernmental agreement with Kazakhstan, and this deal, which is set to run until 2028, paves the way for trade and economic cooperation in the supply of oil and petroleum products from Russia to the republic, Trend reports.
The accord stipulates the provision of tariff-exempt allocations
of Russian hydrocarbon derivatives to Kazakhstan, operating under
the auspices of yearly indicative balances formulated by the energy
ministries of the respective nations.
In accordance with the supplementary documentation, the
reinstatement of the accord is imperative to uphold the
pre-established parameters of collaboration between the Russian
Federation and the Republic of Kazakhstan concerning the logistics
of hydrocarbon and petroleum derivative distributions. It has been
observed that for over a decade, a robust collaborative framework
has been functioning consistently, engaging both governmental
institutions and commercial enterprises across the two nations.
The framework additionally mandates that Russian crude and refined
petroleum derivatives exported to Kazakhstan are required to
undergo customs declaration processes within the Russian
Federation, excluding instances involving temporary periodic
customs declarations, with the exception of deliveries via pipeline
transport.
The protocol was signed in Astana, Kazakhstan, on November 27, 2024. It provides for the resumption of the agreement starting January 1, 2024, and its extension until January 1, 2028. The agreement may be automatically extended for subsequent five-year periods unless either party notifies the other of its intention to terminate the agreement.
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