Putin signs changes regulating right to veto protective trade measures on EAEU market

MOSCOW. Aug 1 (Interfax) - Russian President Vladimir Putin has signed a law to ratify a protocol to amend the treaty on the Eurasian Economic Union (EAEU) that provides for the creation of a special mechanism when union members conduct investigations and make decisions to impose or not impose special protective, antidumping and compensatory measures.

The document has been posted on the official website for legal information. The protocol was signed on December 26, 2024.

The current version of the treaty does not have a procedure for getting out of a situation where one country imposes duties against imports in an attempt to protect domestic producers, but its partners in the union block the protective measure using the right of veto. A veto by one member of the union against a decision to introduce a protective measure can be in effect indefinitely.

While the measure is blocked, imports from third countries continue to hurt producers in the union, including Russian businesses, Deputy Economic Development Minister Vladimir Ilyichev said earlier in parliament.

"The changes to the union treaty worked out on the initiative of the Russian side establish a procedure for getting out of a situation with vetoed protective measures with the involvement of the intergovernmental council and union court, as well as restricting its duration," Ilyichev said.

The first stage of the process will be to consider the issue of a blocked measure at two meetings of the intergovernmental council. If an agreement is reached, the process can stop there and the protective measure goes into effect.

In the second stage, consideration of the issue moves up to a commission at the Court of the EAEU, which, as an arbiter, will assess whether the decision is balanced and meets the interests of both producers and consumers, who could also be hurt as a result of a protective measure. If, after this, union members still do not agree to the imposition of the measure, the matter goes to the Supreme Council of the EAEU.

This mechanism will be in effect for two years with automatic renewal for another two years if there are no objections from the parties.