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14 April 2022, 14:23

Eurasian Economic Union mulling response to sanctions

An archive photo
An archive photo

MOSCOW, 14 April (BelTA) – A high-level working group convened in Moscow on 14 April to discuss proposals of the Eurasian Economic Union (EAEU) member states to increase the sustainability of the EAEU economies, BelTA learned from the press service of the Eurasian Economic Commission (EEC).

The discussion took place in the run-up to the meeting of the EEC Council. “The participants of the meeting discussed proposals to reduce import duties and provide tariff benefits for critical imports, as well as Russia's initiative to increase the cost and weight limits for imports intended for personal use. They also discussed restrictive measures on the EAEU internal market and ways to maintain cooperation between industrial enterprises of the member states,” the press service said.

Chairman of the EEC Board Mikhail Myasnikovich emphasized that the Commission is working hard to implement these measures. “A prompt response from respective authorities of the member states will help stabilize the situation and avoid disruptions of supplies. Much attention was paid to the mechanism of settlements in national currencies and distribution of import duties, special, anti-dumping and countervailing duties to national budgets,” Mikhail Myasnikovich said.

“The draft documents will be finalized and submitted for consideration to the EEC Council,” the press service added.

The high-level working group on enhancing macroeconomic stability was set up by a decree of the EEC Council. It is led by Minister of Economic Development of Russia Maksim Reshetnikov. The working group includes chairs of central (national) banks, economy ministers and finance ministers of the EAEU countries, the chairman of the Board of the Eurasian Development Bank, as well as EEC ministers Ruslan Beketaev, Sergey Glazyev and Andrei Slepnev. The working group approved a list of measures to increase the sustainability of economies. The list consists of 33 measures and covers four blocks: customs, tariff and non-tariff regulation, protective measures; internal market and cooperation; financial and currency markets; international economic cooperation with third countries and integration associations.

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