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# 2 (74), April 2012The Russian Oil
“Duty-free deliveries of Russian oil to Kazakhstan will be preserved till 2014, after then the countries will pass to substitution operations,” informed the head of Samruk-Kazyna National Welfare Fund Umirzak Shukeyev.
“Currently, the system of deliveries of the Russian oil operates and it will work through 2014 because we signed such agreement that up to this term we will have duty-free deliveries of oil,” reminded U. Shukeyev at the session of the parliamentary fraction of Nur Otan Party.
“After 2014, there will be deliveries based on swap - operations, that is, in the west we will give and in the north we will receive,” he added. The head of Samruk Kazyna NWF has emphasized that Russia, every year delivering about 7 million tons duty-free to Kazakhstan, loses in money terms.
“The Common Economic Space allows us to keep the price for petroleum products in the domestic market lower than that in Russia, but we are aware that we should not admit a big spread with Russia, like in the past year, up to 40 %, otherwise the market will become bare. Probably, the spread will be within the limits of 10-20 %,” concluded U. Shukeyev.