Agreement between the Government of the Russian Federation and Government of the Republic of Belarus on price policy

of February 27, 1996

The government of the Russian Federation and the Government of the Republic of Belarus which further are referred to as with the Parties for the purpose of creating favorable conditions of la of development of the market relations between business entities of the Russian Federation and the Republic of Belarus on the basis of rapprochement of price policy of the states within the Customs union, being guided by the Treaty of friendship, neighborliness and cooperation between the Russian Federation and the Republic of Belarus of February 21, 1995 and the Memorandum of expansion and deepening of the Russian-Belarusian cooperation of January 6, 1995, agreed as follows:

Article 1

The parties will consistently conduct course of liberalization of the prices and rates allowing business entities of the Russian Federation and the Republic of Belarus to provide mutual deliveries of products (goods, services) in free contract prices.

Article 2

The parties will perform interstate price regulation (rates) for products of natural monopolies, products which are purchased for the state needs and also other types of products which list is determined by each of the Parties. Use of the specified regulated prices for the territories of the state of other Party in each case (by each type of products) is subject to approval between the Parties.

Article 3

Approval of price policy will be performed on the basis of respect for the general principles of the taxation, common customs tariffs, single methods of calculation of product cost.

The parties will charge to relevant organs of the executive authority to continue work in the specified direction.

Article 4

For the purpose of assistance to equalization of conditions of activities of business entities of the Parties:

The Russian side grants the right to the Russian oil suppliers and oil products to deliver them to the Belarusian consumers at the free prices developing in the domestic market of the Russian Federation;

The Belarusian Side does not allow the unauthorized re-export of oil and oil products delivered from the Russian Federation and does not apply to the Russian consumers established for limiting Belarusian suppliers minimum the price of the exported products.

The specific prices (rates) are determined in the contracts signed between business entities of the Russian Federation and the Republic of Belarus.

Article 5

The parties confirm the agreement reached on the basis of the Agreement between the Government of the Russian Federation and the Government of the Republic of Belarus on supply of the Russian natural gas to the Republic of Belarus and creation of system of transit gas pipelines in the territory of the Republic of Belarus of January 5, 1994.

The parties agreed that the cost of natural gas on border of the Republic of Belarus and payment for transit of the Russian natural gas through the territory of the Republic of Belarus and transportation of gas to be provided for its conversion at the companies of the Republic of Belarus are determined annually during bilateral negotiations on the basis of the prices developing in the domestic markets taking into account operating costs and the necessary profit providing reliable functioning of gas-transport systems.

Article 6

For the purpose of respect for mutual interests of the Party will control jointly the course of accomplishment of this agreement, to consider economic results of its realization and if necessary to make to it changes and additions.

Article 7

This agreement becomes effective from signature date and stops the action after six months since the moment when one of the Parties notifies in writing other Party on the intention to stop its action.

It is made in Moscow on February 27, 1996 in duplicate, everyone in Russian and Belarusian.

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