Gazprom and Bulgaria sign a protocol agreement for the implementation of the South Stream energy project; Russia is ready for a broader cooperation with the Non-Aligned Movement countries; Belarus raises export taxes on crude oil to Russia’s level; Russia
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  • According to reports, Russia’s Gazprom and Bulgaria have signed a protocol on the implementation of the South Stream project, the company said after talks in Bulgaria. Gazprom’s delegation was led by Deputy CEO Alexander Medvedev. “The sides discussed current cooperation in the gas industry. They discussed in particular the implementation of the Bulgarian section of the South Stream gas pipeline. The sides discussed several documents in the presence of Bulgarian Minister of the Economy, Energy and Tourism Delyan Dobrev,” Gazprom said. Gazprom and the Bulgarian Energy Holding EAD signed a protocol on the implementation of the South Stream project in Bulgaria. The document sets the point where the future gas pipeline will be connected to Bulgaria’s gas transportation system, specifies its parameters and determines further steps in the implementation of the project,” the company said. Both the sides agreed that “the final investment decision on the project will be made on November 15, 2012”. 1

    According to reports, President Putin has said that Russia is seeking to create a common security space and “is ready to build up cooperation with the Non-Aligned Movement for peace and prosperity and the benefit of the whole humankind.” 2

    Reportedly, Belarus has decided to raise the export taxes on crude oil and petroleum products to Russia’s level as of September 1 under a decision by the Council of Ministers. Under the Council of Ministers’ resolution, the export tax on crude oil as of September 1 will go up from 336.6 dollars a tonne to 393.8 dollars a tonne. Since October 1, 2011 Belarus has exported tax-free Russian crude. In exchange it transferred to Russia the proceeds from customs duties on oil products made of Russian oil and exported to third countries. Belarus keeps the export duty from exporting domestically produced oil (about 1.7 million tonnes a year). 3

    In other developments, Russia’s Deputy Foreign Minister Gennady Gatilov has said that there is no alternative to the Kofi Annan Plan and the Geneva Communique for beginning of the peace dialog in Syria. 4

    Russia’s Economic Development Ministry has raised the capital outflow forecast for 2012, to $50-60 billion. The updated forecast says that there will be no capital inflow of $15 billion in 2013 as was projected earlier. 5

    Britain has identified 60 Russian citizens who will be denied permission from entering the UK due to their involvement in the Magnitsky case. On the "blacklist" are judges and officials of security services and the prosecutor's office. 6

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