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Medvedev signs law introducing changes to RF-China oil accord

October 20, 2011, 13:47 UTC+3
Dmitry Medvedev has signed the Federal Law "On Ratification of the Protocol on the Introduction of Amendments to the Agreement
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MOSCOW, October 20 (Itar-Tass) — Dmitry Medvedev has signed the Federal Law "On Ratification of the Protocol on the Introduction of Amendments to the Agreement, dated April 21, 2009, between the Governments of the Russian Federation and the People's Republic of China on Cooperation in the Petroleum Sector".

The Law was adopted by the State Duma lower house of the Russian parliament on October 5, 2011, and approved by the Federation Council upper house on October 12, 2011, the presidential press service announced on Thursday.

A press service official pointed out, "The Protocol adds expendable materials to the categories of commodities prescribed by this Agreement and moved across the Russo-Chinese border under a simplified procedure in the period of the carrying out and expressly for the purposes of building an underwater section of the Skovorodino-Mohe oil pipeline across the river Amur; and establishes a streamlined procedure for the crossing of the Russo-Chinese State border by personnel involved in operations to build the underwater section of the pipeline, in repair operations or work to prevent and rectify breakdowns and eliminate breakdown aftermath on the underwater pipeline section in the process of its operation."

Besides, the Protocol directs each Side to exempt the commodities and materials necessary for the construction of the underwater pipeline section from entry customs duties, an excise tax on petroleum products and transportation means, an added-value tax, and customs clearing dues.

 

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