Putin signs law on ratification of protocol on duty-free oil, gas supplies to Armenia

MOSCOW, June 30. /TASS/. Russian President Vladimir Putin has signed a law to ratify the protocol to the agreement with Armenia on cooperation in supplies of natural gas, oil products and uncut natural diamonds. The document was posted on Tuesday on the official legal information website. In line with it, the goods will be sold to Armenia duty-free until the end of 2015 (the term was previously set for the end of 2014). The protocol was signed December 26, 2014 in Moscow and has been temporarily used since. It was ratified by both houses of Russia’s parliament, the State Duma and the Federation Council, on June 19 and 24, 2015 respectively. Earlier the Russian Energy Ministry said energy carriers and diamonds are supplied duty-free within the limits of indicative balances, agreed by the sides and relating to volumes of supplies for domestic needs. According to the Energy Ministry, in 2014 Armenia saved $104 million (1.8 billion cubic meters) on customs duties for Russian gas deliveries, $48 million (222,000 metric tons) for oil, 2 million rubles ($36,000) on diamonds. In 2015, supplies volumes have been similar. Read more