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Ukraine may soon begin paying for Russian gas in Russian roubles

November 02, 2011, 16:51 UTC+3

Until now, Kiev has been paying for its gas imports in U.S. dollars

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KIEV, November 2 (Itar-Tass) —— Ukraine may begin paying for Russian gas in Russia’s national currency, the rouble, already in November, Ukraine’s Minister of Energy Yuri Boiko said on Wednesday.

“We are looking at this possibility,” he told journalists.

On October 26, chairman of Ukraine’s National Bank Sergei Arbuzov, Russia’s acting Minister of Finance Anton Siluanov, top-ranking officials from the Central Bank of Russia and top executives from Russia’s national gas utility Gazprom agreed on a possibility to make payments for Russian gas exports to Ukraine in roubles. According to the National Bank of Ukraine, these agreements will help smooth fluctuations on the currency market.

Until now, Kiev has been paying for its gas imports in U.S. dollars.

Earlier, in October, Russian President Dmitry Medvedev said he did not rule out that Russia and Ukraine might strike new gas deals to the mutual benefit of the two countries.


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