DECISION OF THE SUPREME EURASIAN ECONOMIC COUNCIL

of May 31, 2016 № 8

About the Concept of forming of the total markets of oil and oil products of the Eurasian Economic Union

In compliance with and Item 6 of article 104 of the Agreement on the Eurasian Economic Union of May 29, 2014 the Highest Eurasian the economic council decided:

Approve the enclosed Concept of forming of the total markets of oil and oil products of the Eurasian Economic Union.

Approved by the Decision of the Supreme Eurasian economic council of May 31, 2016 № 8

Concept of forming of the total markets of oil and oil products of the Eurasian Economic Union

I. General provisions

This Concept is developed for the purpose of realization of Item 2 of article 84 of the Agreement on the Eurasian Economic Union of May 29, 2014 (further - the Agreement) and is aimed at providing forming with state members of the Eurasian Economic Union (further respectively - state members, the Union) the total markets of oil and oil products of the Union.

Forming of the total markets of oil and oil products of the Union is performed taking into account:

the existing relations and obligations of the state members determined by international treaties;

features of functioning and development of the national markets of state members;

priority providing internal consumers of state members;

legislations of state members;

international experience of forming of total energy markets.

II. Concepts and determinations

For the purposes of this Concept concepts which mean the following are used:

"access to oil transportation systems and oil products" - provision of right to use of the oil transportation systems and oil products managed by subjects of natural monopolies of state members for oil transportation and oil products;

"oil and oil products" - the goods determined according to the single Commodity nomenclature of foreign economic activity of the Eurasian Economic Union and the Common customs tariff of the Eurasian Economic Union;

"the total markets of oil and oil products of the Union" - set of trade and economic relations of business entities of state members in the sphere of production, transportation, delivery, conversion and sale of oil and oil products in the territories of the state members necessary for requirements satisfaction of state members in them;

"the operator of the exchange biddings" - the legal entity rendering services in carrying out the exchange biddings by oil and oil products according to the rules approved by authorized bodies of state members;

"the operator of oil tankage and warehouse infrastructure" - the legal entity rendering services in oil storage and oil products in the territory of state member;

"the operator of oil transportation system and oil products of state member" - the legal entity rendering transportation services of oil and (or) oil products on oil transportation system and oil products in the territory of state member and also supervisory control of oil transportation system and oil products;

"the consumer of oil and oil products" - the legal entity acquiring oil and (or) oil products for own production and (or) other economic needs;

"oil transportation system and oil products" - set of bulk distribution lines and vehicles of other modes of transport used for transportation (transfer) of oil and (or) oil products;

"transit of oil and oil products" - movement (transportation) of oil and oil products on the state member territories, the points of departure and which appointments are outside the territory of this state member;

"oil transportation and oil products" - making of the actions directed to movement of oil and oil products in any manner including with use of pipeline transport from collection point from the sender to delivery Item to the receiver, including discharge, filling, transfer on other mode of transport, storage, mixture;

"the participant of the total markets of oil and oil products of the Union" - the business entity registered in the territory of state member and performing activities in the sphere of production, delivery, conversion and sale of oil and oil products in the territories of state members and also the consumer of oil and oil products.

Other concepts used in this Concept are understood in the values given in the Agreement.

III. Purposes and tasks of forming of the total markets of oil and oil products of the Union

Forming of the total markets of oil and oil products of the Union is performed for the purpose of:

ensuring sustainable development of economies, energy and ecological safety of state members taking into account need of priority ensuring requirements of state members for oil and oil products;

increases in cost efficiency of activities of business entities of state members in the sphere of production, transportation, delivery, conversion and sale of oil and oil products in the territories of state members and reliability of functioning of fuel and energy complexes of state members;

increases in level of economic integration and competitiveness of state members and the Union in general in the world market.

Tasks of forming of the total markets of oil and oil products of the Union are:

creating favorable conditions for development of economies of state members;

development and increase in efficiency of market mechanisms of mutual oil trade and oil products between participants of the total markets of oil and oil products of the Union by creation of mechanisms of stock exchange trading (including forming of the stock goods market of the Union), determinations of the principles of interaction of subjects of the total markets of oil and oil products of the Union and management structures and ensuring functioning of the total markets of oil and oil products of the Union;

elimination of barriers of entrance on the stock goods market, creation of conditions for ensuring non-discriminatory access for participants of the total markets of oil and oil products of the Union on the markets of state members (including creation of electronic exchange and off-exchange trade institutes) when accounting in priority procedure for interests of economies of state members;

ensuring information exchange between the states - members data on consumption of oil and oil products, production, transportation, delivery, conversion and sale of oil and oil products in the territories of state members;

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