Ministry of Energy of the Russian Federation proposed to adjust the  rules for the supply of petroleum products to Armenia

ArmInfo.The Ministry of Energy of the Russian Federation has developed a draft federal law proposing to ratify the Protocol amending the Agreement with Armenia  on cooperation in the supply of natural gas, oil products and rough  diamonds to the republic. The document, as reported by the  Parliamentary Newspaper, is posted on the portal of draft regulatory  legal acts.

The agreement between the countries was signed on December 2, 2013,  and the Protocol on amendments to it was signed by the head of the  Ministry of Energy Alexander Novak and the Minister of Territorial  Administration and Infrastructure of Armenia Suren Papikyan on  October 4 this year.

As indicated on the website of the Ministry of Energy, the Protocol  provides for the abolition of the temporary periodic customs  declaration of oil products for deliveries to Armenia. It is assumed  that the signing of the document will provide the republic with  stable energy supplies from Russia.

 It should be noted that according to the data of the State Revenue  Committee of the Republic of Armenia, the import of petroleum  products to Armenia in quantitative terms increased by 4.1% per annum  in 2019 to 160.4 thousand tons, with a decrease in customs value by  4.9% to $ 121.2 million, in while a year earlier in the same period  growth was recorded both in volume - by 14.8%, and in value - by  36.6%. According to the source, in the reporting period, the export  of petroleum products suffered a significant increase, against a  sharp decline a year ago. Export volumes from 393 kg in the first  half of 2018 increased to 4 tons for the same period in 2019, against  the background of a several-fold increase in customs value. Thus,  according to the RA Customs Union, in value terms, export of oil  products from $ 700 reached $ 6.4 thousand.

During the reporting period, petroleum products were mainly imported  from Russia (78.2%), Turkey (8%), Iran (5.2%), Bulgaria (3.6%),  Georgia (1%), as well as Greece, Germany, Iraq, Japan, Ukraine,  Lithuania, Korea, Belarus, France, USA, Poland, Belgium, France, UAE,  Italy, India. It should be noted that in the first half of 2019,  Armenia exported the dominant volume of oil products (87.5%) to  Georgia, and the rest fell to Cyprus (10%) and Russia (2.5%).