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Law ratifying Russian-Chinese agreement on expanding cooperation in the trading of crude oil

December 20, 2013

Vladimir Putin signed Federal Law On Ratification of the Agreement between the Government of the Russian Federation and the Government of the People’s Republic of China on Expanding Cooperation in the Trading of Crude Oil.

The Agreement was signed on March 22, 2013 in Moscow.

It expands cooperation between Russia and China by increasing the volume of oil supplies to China and contemplates execution of a long-term crude oil supply agreement for a term of 25 years, with an option to extend it for another five years. Authorised companies of both sides to the agreement are Russia’s Rosneft and Chinese National Petroleum Corporation.

December 20, 2013