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Transferring Powers to Eurasian Union Does Not Harm Sovereignty – Putin

© RIA Novosti . Mikhail Klimentyev / Go to the mediabankVladimir Putin visits Kazakhstan, attends Supreme Eurasian Economic Council meeting
Vladimir Putin visits Kazakhstan, attends Supreme Eurasian Economic Council meeting - Sputnik International
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The move by Russia, Belarus and Kazakhstan to transfer powers to the bodies of the Eurasian Economic Union (EAU), currently being created, does not entail any harm to national sovereignty, Russian President Vladimir Putin said Thursday.

ASTANA, May 29 (RIA Novosti) – The move by Russia, Belarus and Kazakhstan to transfer powers to the bodies of the Eurasian Economic Union (EAU), currently being created, does not entail any harm to national sovereignty, Russian President Vladimir Putin said Thursday.

“The transfer of certain powers to national bodies of the Union brings absolutely no harm to the sovereignty of our states,” Putin said during the Supreme Eurasian Economic Council session in the Kazakh capital Astana.

“The treaty has an epochal and historic meaning, opening the broadest perspectives for developing economies and increasing prosperity of our countries’ citizens,” Putin said.

The states will “conduct coordinated policy in the key economic areas, in energy, industry, agriculture and transport,” Putin said. “A new economic organization is appearing on the global arena, which has full international legal standing and acts on the basis of the WTO principles,” he added.

The leaders of Russia, Belarus and Kazakhstan signed the Eurasian Economic Union Treaty on Thursday in the Kazakh capital Astana, which will enter into force January 1, 2015.

The treaty is bringing Russia, Kazakhstan and Belarus to a higher level of integration, with the three committing to guarantee the free movement of goods, services, capital and labor as well as the implementation of coordinated policies in key sectors, including energy, industry, agriculture and transport.

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