Russia ratified Agreement on Eurasian Union

On Friday, the Russian State Duma ratified the Agreement on Eurasian Economic Union, set up by Russia, Belarus and Kazakhstan.

The Parliaments of Belarus and Kazakhstan are expected to consider ratifying the Agreement in early October, said the head of the Duma Committee on Eurasian integration Leonid Slutsky.

Meanwhile, in late August, President of Kazakhstan Nursultan Nazarbayev said that Astana could withdraw from the treaty without ratifying it, if Russia continued to pursue its current policy towards Ukraine.

"Astana will never be a part of the organization that pose a threat to the independence of Kazakhstan", said Nazarbayev.

If the agreement is ratified the by all participants these three countries will unite in a single economic space.

All three countries participate in the Customs Union, implying the elimination of duties on trade and policy coordination between trade participants with third countries.

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