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Eurasian Economic Union

Russia ratifies protocol on EAEU countries’ joint industrial projects

The percentage ratio and the form of providing financial assistance are defined by the supreme Eurasian Economic Council

MOSCOW, February 14. /TASS/. Russian President Vladimir Putin has endorsed the law on ratification of the protocol defining the order of providing financial assistance to joint industrial cooperation projects of EAEU (Eurasian Economic Union) member states. The document has been published on the official portal of legal information.

The protocol was signed in Moscow on May 25, 2023. It stipulates that the scale of funds from the EAEU’s budget allocated for joint industrial projects in the next financial year will be defined in percentage terms from the total amount of EAEU members’ budget revenues from special, antidumping and compensation duties in the previous financial year.

The percentage ratio and the form of providing financial assistance are defined by the supreme Eurasian Economic Council. The order of selection and implementation of joint projects, as well as provision of financial assistance using the EAEU’s budget funds, is defined in accordance with the provisions approved by the Eurasian intergovernmental council.

The protocol will take effect from the date when the last written notification that all necessary domestic procedures have been completed by the sides, is received through diplomatic channels.

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