MOSCOW—Russia’s parliamentary upper house, the Federation Council, ratified a treaty for Armenia’s accession to the Eurasian Economic Union on Wednesday, TASS reports.
The accord was signed at a meeting of the Supreme Eurasian Economic Union by the presidents of Russia, Belarus, Kazakhstan and Armenia in Minsk on October 10. The deal is a basic document determining agreements between Russia, Belarus and Kazakhstan on the terms of Armenia’s joining the Eurasian Economic Union seeking to lay a legal basis for functioning of the common Union.
The accord sets Armenia to become a full-fledged member of the Eurasian Economic Union, after all ratification procedures are complete by member states, no earlier than on January 1, 2015.
Armenia is also obligated to revise its agreements with the World Trade Organization (WTO) before joining, which could mean possible termination of its membership.
The Kazakh and Belarusian parliaments have yet to ratify the treaty, but are expected to approve it in the coming weeks. Armenia’s parliament approved the agreement earlier this month with an overwhelming majority of votes in favor.