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Kazakhstan considers prolonging ban on fuel exports

31 may 2011, 11:46
0
Sauat Mynbayev. Photo courtesy of focus.kz
Sauat Mynbayev. Photo courtesy of focus.kz
Kazakhstan intends to prolong ban on fuel exports, Novosti Kazakhstan quoted Kazakhstan’s Minister of Oil and Gas Sauat Mynbayev as saying to journalists May 31.

The current ban on fuels exports is in effect before July 1. The ban has been introduced to prevent fuel deficit and consequent price hikes during the grain sowing campaign.

“We hope to prolong the ban; however, the measure has to be coordinated with our partners within the Customs Union”, the Minister said.

According to him, “prolongation period will depend on the market situation”.

The Customs Union between Russia, Kazakhstan and Belarus came into existence on January 1, 2010 to boost trade and investment. According to the statement made at the press-conference in Minsk, the Customs Union was formed on the WTO principles.

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