COMECON Energy Coordination and Oil-for-Equipment Deals (1950s–1989)

1. Comecon is announced in Moscow communiqué

   Jan 25, 1949Labels: Comecon, Soviet Union

   • Cambridge
   • Britannica

2. Comecon approves the Druzhba oil pipeline project

   Dec 18, 1958Labels: Druzhba pipeline, Comecon

   • Druzhba
   • Britannica

3. Construction begins on the Druzhba pipeline network

   Jan 1, 1960Labels: Druzhba pipeline, Member states

   • Druzhba
   • Britannica

4. International Bank for Economic Cooperation agreement is signed

   Oct 22, 1963Labels: IBEC, Transferable ruble

   • TransferRbl
   • Britannica

5. Druzhba pipeline enters full operation

   Oct 1, 1964Labels: Druzhba pipeline, Soviet oil

   • Druzhba
   • Britannica

6. Orenburg gas field is discovered in the USSR

   Jan 1, 1966Labels: Orenburg field, USSR

   • Orenburg
   • Sojus

7. International Investment Bank is created for joint projects

   Jul 10, 1970Labels: International Investment, Comecon

   • IIB
   • Britannica

8. Comprehensive Program sets integration rules and pricing approach

   Jan 1, 1971Labels: Comprehensive Program, Comecon

   • CPSI
   • EconBiz

9. 1973 oil crisis increases the strategic value of Soviet supplies

   Oct 16, 1973Labels: 1973 oil, Soviet oil

   • OilCrisis
   • CPSI

10. Orenburg gas field enters commercial exploitation

    Jan 1, 1974Labels: Orenburg field, Gas processing

    • OilGasJ
    • Orenburg

11. Sojus gas pipeline is built as a Comecon joint project

    Jan 1, 1975Labels: Sojus pipeline, Comecon

    • Sojus
    • CPSI

12. Comecon adopts a technology program partly to reduce oil dependence

    Dec 18, 1985Labels: Technology program, Comecon

    • LOC
    • WashPost
    • UN

13. 1989 revolutions weaken the planned-trade energy framework

    Nov 1, 1989Labels: 1989 revolutions, Eastern Europe

    • Britannica
    • UPI

14. Comecon trade shifts to hard-currency settlement

    Jan 1, 1991Labels: Hard-currency settlement, Former Comecon

    • Britannica
    • UPI