OREANDA-NEWS. June 16, 2014. Draft law "On ratification of the Protocol amending the Agreement between the Government of the Republic of Kazakhstan and the Government of the Russian Federation on trade and economic cooperation in the field of oil and petroleum products in the Republic of Kazakhstan on December 9, 2010" was discussed at an enlarged meeting of the Committee on Economic Policy, Innovation and Entrepreneurship Development of the Senate.

"The main provisions of the Protocol read as follows: counter deliveries of oil from the Republic of Kazakhstan to the Russian Federation will be only for those petroleum products that were delivered to Kazakhstan in the period 2012-2013. Counter delivery for those petroleum products that come from the Russian Federation on January 1, 2014 will not be conducted.

Also, the Republic of Kazakhstan will increase export duties on light oil, which we import and ban the export of such petroleum products from the territory of the Customs Union until the end of 2014," Deputy Oil and Gas Minister Bolat Aksholakov said presenting the bill.

According to Deputy Minister, Russia will establish customs declaration on petroleum products delivered from Russia to Kazakhstan starting from January 1, 2014, and will ban import of a number of dark petroleum products from Russia to Kazakhstan. In addition, the Protocol extends the life of the Agreement until January 1, 2015.

After discussion, the Committee decided to present new legislation to the House at the plenary meeting.