Eurasian bloc bets on creation of common oil markets.

Russia: The Heads of State and Government of the member countries of the Eurasian Economic Union (UEE) approved today to move to the second stage of the formation of common markets for oil and its derivatives, Prensa Latina reports.

The decision was one of eight adopted at the meeting of the Eurasian Supreme Economic Council, held this Thursday under the coordination of Belarus, and published on the Kremlin’s official website.

After the public interventions of the leaders, the meeting continued behind closed doors and a declaration on the economic cooperation of the UEE member states in the framework of the global climate agenda was approved.

Russian President Vladimir Putin highlighted the development and deepening of integration processes within the economic bloc despite the difficulties caused by the Covid-19 pandemic.

He referred to the interest in the development of the UEE shown by the parties and highlighted the results achieved, especially in the areas of the economy and trade.

In this regard, he drew attention to the implementation of the Strategic Guidelines for the Development of Economic Integration until 2025, a document approved at the end of 2020.

He meant that between January and June, trade between the member states of the Eurasian economic bloc increased by almost a third and the volume of the UEE’s foreign trade with third countries by a quarter.

Putin reported that his country is making great efforts to reduce the intensity of the presence of carbon in the economy, reduce greenhouse gas emissions and develop green energy.

Hence, he urged, within the UEE, to unify carbon reporting standards, launch favorable climate projects and jointly create proprietary technologies based on carbon-free energy sources.

He explained that the environmental agenda presented includes the strengthening of cooperation and the development of a harmonized system of climate regulation, so that companies in the UEE countries operate under clear and harmonized norms on ecological matters.

According to the Russian president, the document reflects the understanding of the importance of mitigation and adaptation to climate change and to preserve the environment for all the bloc states.

Heads of State and Government of Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, as well as Moldova, Uzbekistan and Cuba, who have observer status, participated in the meeting of the Supreme Eurasian Economic Council.

Por Redacción digital

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