Russia will set quotas for duty-free exports of gas and oil products to Armenia, Energy Minister said at parliamentary hearings Tuesday, Dec 17, ARKA reported.

According Armen Movsisyan, the quotas will be decided before the start of each calendar year. Quotas for uncut diamonds will be replaced by contracts with Armenian diamond cutting companies.

The agreement on cooperation with Russia in exporting gas, oil and rough diamonds to Armenia envisages sanctions, should Yerevan re-export the goods to third countries.

The deal on abolition of export duties on gas, petroleum products and raw diamonds to Armenia was signed in Yerevan December 2 after talks between Armenian and Russian presidents.

As Movsisyan added, gas price talks with Tehran will be held within 2 months at the meeting of the Armenia-Iran intergovernmental committee.

Meanwhile, the administrative court rejected activists’ request urging against the gas and electricity price hike.