The entity's Prime Minister, Milorad Dodik, confirmed that the parliament decided to allow the sale, but no other details were known because today's parliamentary session was held behind closed doors.
The entity's government earlier announced the sale of the Bosanski Brod refinery in a package with the petroleum product refinery in the town of Modrica and a chain of petrol stations.
On 16 August, a special protocol on the matter was signed in Moscow regulating the Russian company's obligation to pay 42 million euros for the Bosanski Brod plant, 767 million euros for the Modrica plant and 10 million euros for the petrol stations.
The Russian company is also expected to invest an additional 979 million euros for the development and modernisation of production in the next four years.
Dodik told reporters that he was satisfied with today's decision, but added that a contract with the Russian partner could not be signed without the approval of Bosnia-Herzegovina's Council of Ministers, the country's government, about maintaining the current quality of petroleum produced in the above-mentioned plants. However, this means that those petroleum products will not meet European standards as the plant in Bosanski Brod is in a poor condition.