ASTANA, September 15. /TASS/. The creation of a common market for oil and petroleum products within the Eurasian Economic Union (EAEU) has been postponed until 2030, according to draft amendments to Kazakhstan’s Tax Code submitted for public discussion by the republic’s Ministry of National Economy.

In particular, one of the articles of the Tax Code proposes to introduce a leveling coefficient for the mineral extraction tax (MET). Under the present version of the Code, its introduction is scheduled for 2027, whereas now it is set for 2030.

"The introduction of a leveling coefficient is aimed at aligning the prices of oil and petroleum products within the EAEU’s single market for oil and petroleum products. However, the launch of the EAEU single market has been postponed until 2030, and there is currently no need to apply the price equalization mechanism," according to an explanatory note.

In May of this year, the draft plan for implementing the concept for the development of Kazakhstan’s electric power industry for 2023-2029 reported that within the EAEU, "the possibility of further postponing the implementation deadlines for certain market elements, including organized trading mechanisms, to the period up to 2030 was being discussed." It was decided in 2024 to postpone the launch of the EAEU common energy market from January 1, 2025, to January 1, 2027.