Armenia considers it necessary to create a normative framework for the single markets of natural gas, oil, and oil products for the development of the Eurasian Economic Union (EEU). The Prime Minister of Armenia, Nikol Pashinyan, stated about this at Friday’s meeting of the Eurasian Intergovernmental Council, in Cholpon-Ata, Kyrgyzstan.

"We are convinced that one of the key components of the effective development of the union is consistent and transparent work aimed at creating a regulatory base for the single markets for [natural] gas, oil, and oil products. Effective use of the union's energy potential can be a response to many challenges, contributing to the strengthening of energy security and sustainable development of the economies of our countries," Pashinyan said, expressing hope for the continuation of the constructive work based on mutual understanding and the interests of all EEU member countries.

According to him, Armenia expresses its satisfaction with the significant work done by the commission and the authorized bodies of the EEU countries in the formation of single markets for natural gas, oil, and oil products.

Pashinyan noted that the EEU countries have started discussing the international agreement on the formation of a single natural gas market.

"I would also like to note with satisfaction that we managed to reach an agreement on the concept of forming a single market for oil and oil products, based on the five principles approved by all EEU countries," the Armenian PM added.