Parliament ratified the protocol on resuming the agreement between the governments of Kazakhstan and Russia. This was reported by Qazaqyia.kz citing Sputnik Kazakhstan.
The agreement concerns trade and economic cooperation in the supply of oil and petroleum products to the Republic of Kazakhstan. The protocol allows duty-free import of petroleum products from Russia to Kazakhstan.
“Maintaining the duty-free regime is of practical importance for meeting the domestic market demand of Kazakhstan for certain types of petroleum products. For example, in 2026 the expected savings will amount to about 30 billion tenge. This includes 5.59 billion tenge for gasoline, 15.75 billion tenge for diesel fuel and 8.61 billion tenge for aviation fuel,” the parliament reported.
In addition, resuming the agreement provides an international legal basis for cooperation in forming the indicative balance of oil and petroleum product supplies.
“Ratification of the protocol is important not only for continuing trade and economic cooperation between Kazakhstan and Russia, but also for ensuring stability in the domestic petroleum products market and Kazakhstan’s energy security,” the Parliament noted.
The agreement’s validity has been extended until January 1, 2028.
“After this period expires, if one of the parties does not notify the other party in writing of its intention to terminate the agreement at least six months before the end of the initial or subsequent five-year period, the document is automatically extended for five-year periods,” the parliament explained.