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Russian Prime Minister Dmitry Medvedev has signed a resolution terminating an intergovernmental agreement with Ukraine on the use of oil products pipelines, which has been in force since 1995.
The document was published on the Russian government's website.
"The agreement specifies that the oil-products pipelines Samara-Zapadnoye and Grozny – Armavir – Trudovaya, which pass through the territory of Ukraine, are operated by subsidiaries of JSC Transnefteprodukt (100% of ordinary shares of JSC Transnefteprodukt were included in PJSC Transneft's charter capital)," the resolution reads.
It is reported that the agreement has been terminated due to the fact that in February 2016 PJSC Transneft sold sections of the oil pipelines running via Ukraine to Swiss-based International Trading Partners AG.
"In this regard, the Russian side's participation in the agreement is inexpedient," the document says.
Read alsoReuters Exclusive: Russia's Rosneft boss Sechin says no to OPEC oil capAs UNIAN reported earlier, Russia said it was ready to join common efforts to limit crude oil production and urged other oil exporters to do the same.
"We support OPEC's recent initiative to cap output and think that at the OPEC meeting in November this idea will materialize in a specific agreement, giving a positive signal to the markets and investors," Russian President Vladimir Putin said.