Putin Says Russia Ready to Help Kyrgyzstan Join Eurasian Union

ASTANA, May 29 (RIA Novosti) – Russia is ready to assist Kyrgyzstan in joining the nascent Eurasian Economic Union, Russian President Vladimir Putin announced Thursday.

“Anyway we are ready to help, lend our shoulder,” the Russian leader assured his Kyrgyz counterpart, Almazbek Atambayev, on the sidelines of the Supreme Eurasian Economic Council session in the Kazakh capital Astana.

Putin stressed that earlier in the day the sides had already discussed a roadmap on bringing Kyrgyzstan into the union.

“It is pleasant to see your attitude for the implementation of this work given all the difficulties. Both the Eurasian Commission experts and your specialists will have to do some work,” the Russian leader said.

As for Russian-Kyrgyz bilateral relations, “everything is advancing as planned,” according to Putin.

Atambayev in his turn thanked Putin for his support.

“If you had not lent us your shoulder in time of need, things would look much worse for us,” the Kyrgyz president said adding that the decision was made without any doubts “thanks to friendly relations.”

The leaders of Russia, Kazakhstan and Belarus earlier on Thursday inked the Eurasian Economic Union Treaty, that is due to enter force on January 1, 2015. The EAU was conceived as an EU-style bloc aimed at promoting integration and free trade between its three member states. More countries are expected to join the union.

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Russia Signs Oil Deals with Belarus, Kazakhstan

ASTANA, May 29 (RIA Novosti) – Moscow has signed new oil deals with Minsk and Astana after the three countries merged into the Eurasian Economic Union (EAU) on Thursday.

The new intergovernmental agreement between Russia and Belarus ensures that the latter will get no less than $1.5 billion in oil export taxes and Russia will fully load Belarusian refineries with tax-free oil.

"We have been able to reach a mutual agreement, and we have signed two protocols today. The first is about introducing changes to the distribution of export tax, which reflects the previous agreements between our presidents, and adds that starting in 2015, the Republic of Belarus will retain 1.5 billion in export taxes. Later, starting in 2016, the sides may review the digit toward an increase," Sergei Rumas, a board member of the EAU Commission in Belarus, told journalists.

"We have also introduced changes to the intergovernmental agreement of 2007 on the mutual oil and oil product trade, according to which Belarus will be supplied with oil to the full capacity of its refineries until 2025, when a common oil market will be formed," he added.

Belarus provides Russia with $4 billion in oil product taxes yearly.

The details of the agreement with Astana remain vague. So far, Kazakhstan imported tax-free oil and light oil products from Russia at a set quota and could not resell light oil products to third parties. Russia does not supply dark oil products to Kazakhstan.

Russian President Vladimir Putin and the leaders of Belarus and Kazakhstan signed the treaty on the formation of the Eurasian Union in Astana earlier on Thursday. The treaty will enter into force on January 1, 2015.

The new EU-style bloc aims at promoting integration and free trade between its three member states, with more countries to follow. Putin has urged Armenia to join the union.

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Russia to Help Kazakhstan Build Nuclear Power Plant

ASTANA, May 29 (RIA Novosti) – Russia and Kazakhstan have signed a memorandum on the construction of a nuclear power plant in Kazakhstan during a Supreme Eurasian Economic Council session in Astana on Thursday.

The agreement was signed by nuclear corporations Rosatom and Kazatomprom in the presence of Russian President Vladimir Putin and his Kazakh counterpart Nursultan Nazarbayev.

The memorandum of understanding outlines the parties’ intent to construct a nuclear power plant with an installed capacity of 300-1,200 megawatts based on water-moderated reactors designed by Russia in the Kazakh city of Kurchatov. The agreement also provides for nuclear fuel supplies, including production of the fuel or its parts in Kazakhstan, maintenance of the facility and the training of personnel.

This will be the first power plant built in the country following the shutdown of its BN-350 nuclear reactor in 1999.

Drafting the project documentation for the construction of the plant and identifying its investment may take up to a year and a half, Rosatom chief Sergei Kirienko told reporters.

Several years ago, Nazarbayev announced that the republic would begin to build a new nuclear power plant. The Kazakh leader recalled that his country is the world’s leading producer of uranium and possesses huge scientific resources and nuclear energy infrastructure. Kazakhstan supplies about 37 percent of uranium to global markets.

In March 2011, Kirienko met with Kazakh authorities to discuss issues relating to the project, which was sketched out but later halted following the Fukushima disaster. Earlier this year, Nazarbayev ordered his government to tackle all the questions on the location, funding sources and time limits of the construction by the end of the first quarter.

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Chinese Investors to Visit Crimea in June – Crimean Official

MOSCOW, May 29 (RIA Novosti) – Crimean Deputy Prime Minister Rustam Temirgaliev told RIA Novosti on Thursday the republic is expecting to welcome Chinese investors to discuss the restart of large-scale construction projects within the next month.

The deputy premier said Chinese business have expressed great interest in a deep-water port project in the city of Yevpatoria, in southwestern Crimea.

“By the end of June, we expect a visit of Chinese investors to the republic’s territory to discuss a roadmap for the implementation of this and other projects,” he said.

He added the project to build a bridge from Crimea to Russia over the Strait of Kerch was another lucrative investment target for Chinese sponsors.

Crimea, previously an autonomous republic within Ukraine, refused to recognize the legitimacy of the government in Kiev, which seized power as a result of a coup in February, instead rejoining Russia after a referendum that saw over 96 percent of voters in the region back the motion to leave Ukraine.

Crimea and Sevastopol, which has a special status within the region, became subjects of the Russian Federation on March 21 after Russian President Vladimir Putin signed reunification documents into law.

Russia has repeatedly said that Ukrainian nationalists and the government’s attempts to forcefully assimilate the Russian-speaking minority bore full responsibility for the civil crisis in the country which resulted in the reunification of Crimea with Russia.

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Moscow, Beijing May Use National Currencies in Range of Contracts – Russian Official

MOSCOW, May 29 (RIA Novosti) – The payments on a range of export contracts signed during Russian President Vladimir Putin’s recent visit to China may be made in the two countries’ national currencies, Deputy Minister of Economic Development Alexei Likhachev told RIA Novosti Thursday.

“I think, yes. The Finance Ministry must as soon as possible create the appropriate conditions,” Likhachev said, responding to a question on possible payment between Russia and China in the ruble and yuan.

China is Russia’s major trade partner, with bilateral trade turnover estimated at around $90 billion per year. Moscow and Beijing earlier said they planned to boost the role of national currencies in mutual payments.

Russian Economic Development Minister Alexey Ulyukayev and Finance Minister Anton Siluanov have already met with the head of China’s National Bank to discuss the issue, Likhachev said.

Payments in national currencies should begin under short-term contracts, he said. “Companies fulfilling long-term contracts should independently define their position. Gazprom has voiced its interest, but it needs to make more precise calculations,” Likhachev said.

The decision to switch to the national currencies, thus reducing dependence on the US dollar was first announced in 2010 by then-Russian Prime Minister Vladimir Putin and Chinese Premier Wen Jiabao.

Russia and China are planning to increase the volume of direct payments in mutual trade in their national currencies, according to a joint statement on a new stage of comprehensive partnership and strategic cooperation signed during high-level talks in Shanghai last week.

Gazprom and CNPC signed a 30-year contract May 21 for the sale of Russian gas to China at a volume of 38 billion cubic meters per year with delivery via an eastern pipeline, which will cross Siberia to reach China’s populous northeast regions. The deal is estimated to be worth $400 billion. The first gas deliveries to China from Russia are expected to begin in the next four to six years, with a $25 billion advance for deliveries a possible option.

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