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Ukraine-Russia-EU gas talks postponed till next week

October 01, 2014, 19:33 UTC+3
Ukraine’s debt for gas exceeds $5 billion
1 pages in this article
© ITAR-TASS/Vitaly Grabar

Infographics Ukraine’s debt burden Ukraine’s debt burden
August 29, IMF Board of Directors discusses the second tranche for Ukraine amounting to $1.4 billion, which was postponed due to instability in south-eastern Ukraine. The country received the first tranche in April 2014. Earlier, April 30, the IMF approved a two-year credit totaling $17 billion for the support of the economic program. Infographics by ITAR-TASS
BRUSSELS, October 1 /TASS/. The trilateral Russia-EU-Ukraine talks have been postponed till next week, a European Commission representative told TASS on Wednesday.

Russian Energy Ministry spokesperson also told TASS that the talks have been postponed.

Previous round of talks

After the tripartite talks in Berlin on September 26 Russia, the EU and Ukraine prepared a new package on the gas problem. The agreement should be coordinated by the governments of the countries.

European Energy Commissioner Gunther Oettinger, explaining the new agreement at a press conference after the meeting in Berlin, said Ukraine must pay $3.1 billion until the end of this year to repay its debt to Gazprom for the already supplied gas. The Russian company will supply five billion cubic meters of gas to Ukraine and give an option for five billion cubic meters more. The price will be set at $385 for 1,000 cubic metres with a $100 discount (from $485 Russia previously insisted on). The discount will be in force only for the next six months.

Ukraine will pay $2 billion to Gazprom before October 2 for the supplied gas, and at least $1.1 billion until the end of 2014, the EU commissioner said. Thus, $3.1 billion must be paid until the end of this year.

Oettinger said final payment to settle the debts must be made after the arbitration consideration (no earlier than in the summer of 2015). The final settlement will depend on the court decision.

Ukraine’s debt for gas exceeds $5 billion.

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