On May 24, 2021 the Agreement on Peculiarities of Operations with Precious Metals and Stones within the Eurasian Economic Union entered into force. The document contains many provisions which establish common conditions for the circulation of precious metals and stones in the territory of the EAEU for all EAEU member states. It will enable the economic entities of the member states to circulate their jewelry and diamond products in the whole territory of the EAEU. The Minister of Economy Vahan Kerobyan said about this presenting the legislative package on Making Addendum to the RA Code on Administrative Offenses and on Making Addenda and Amendment to the Law on Precious Metals for debate in the first reading.
It is proposed to remove the provisions on fines from the Law on Precious Metals, as they are defined in the Code on Administrative Offenses.
The EAEU Monitoring Group proposed to toughen the sanctions to ensure the harmonization of sanctions in the territory of the EAEU.
The member of the NA Standing Committee on Economic Affairs Hayk Tsirunyan informed that the Committee endorsed the package.