Russia will notify the CIS Executive Committee about its intention to withdraw from the agreement on conducting coordinated policy in oil and oil product transit through main pipelines.
As the press office of the Russian government informs, Russian Prime Minister Viktor Zubkov signed a resolution to suspend temporary action of the agreement signed in Moscow on April 12, 1996. The Russian Ministry of Foreign Affairs was ordered to inform the CIS Executive Committee on Russia’s intention to withdraw from the agreement.
The withdrawal means that the question of transit will be settled by market tools only, there will be no single pipeline and every transit country will be individually responsible to supplier and customer.
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