EU RUSSIA DEAL
June 1st, 2004
BY KEITH NUTHALLRUSSIA and the European Union (EU) have struck a wide-ranging trade deal helping Moscow's application for World Trade Organisation (WTO) membership, notably by opening up its utility sectors to foreign trade. In particular, Russia has promised to raise its prices for industrial users of natural gas, so it "covers costs, profits and investment needed for exploitation of new fields". These prices would be gradually increased from the current US$27-28 (per 1,000 cubic metres) to between US$37-42 by 2006 and US$49-57 by 2010, in line with Russia's own ...
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