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Viktor Yanukovich: Ukraine will not raise retail price of gas in defiance of high costs, IMF demands

Yanukovich speculated that the IMF might reconsider its demand for raising the domestic retail prices of gas

Photo EPA/ITAR-TASS

Photo EPA/ITAR-TASS

KIEV, August 31 (Itar-Tass) - Ukrainian President Viktor Yanukovich has said that in the current situation the authorities regarded as utterly impermissible the idea of raising the retail price of natural gas.

“We shall not follow a policy like this at the cost of worsening living standards,” Yanukovich said in a televised interview on Friday.

“True, we need IMF money. But raising the price of gas is unacceptable to us. We have raised it already to a level that matches the conditions our people live in,” Yanukovich said.

About the current condition of negotiations between Kiev and the International Monetary Fund Yanukovich speculated that the IMF might reconsider its demand for raising the domestic retail prices of gas.

“There is understanding on both sides that this demand should be replaced by something else. Possibly, we will achieve agreement. We shall see in September or October. The negotiating process is continuing,” he said.

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