President of Russia Vladimir Putin ratified an agreement with Kyrgyzstan on cooperation in the sphere of oil and oil products supply, providing duty-free raw products supply to the Kyrgyz Republic. RIA Novosti reported with reference to official legal information portal.
Under the agreement, Russia will not charge export duties on oil and oil products supplied for domestic consumption in Kyrgyzstan.
The document provides for duty-free supplies of oil and petroleum products to Kyrgyzstan for domestic consumption.
The volume of domestic oil consumption will be agreed before the beginning of each calendar year. Duty-free delivery will be determined on the basis of indicative balances.
The agreement prohibits re-exports of oil and oil products. In such cases, the Russian side may suspend the duty free delivery.
The document was signed by the parties in Bishkek on June 6, 2016.