Putin signs law on ratification of the EEU treaty

Putin signs law on ratification of the EEU treaty

Russian President Vladimir Putin said on Friday he signed the law on ratification of the treaty creating the Eurasian Economic Union.

The head of state announced the signing at a meeting with government members. The move follows lower house ratification on September 26 and the upper house ratification on October 1.

The Eurasian Economic Union, which envisages free movement of goods, services, capital and workforce and is based on the Customs Union of Russia, Belarus and Kazakhstan, will become operational from January 1, 2015.

The treaty to create the union was signed by presidents of Russia, Kazakhstan and Belarus Vladimir Putin, Nursultan Nazarbayev and Alexander Lukashenko in Astana on May 29.

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