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Ukraine suggests completing gas debt repayment in March 2015 — Russian minister

October 13, 2014, 16:32 UTC+3

Ukraine has offered too pay the first tranche of $1.451 billion, and paying off the remaining debt in equal tranches by March

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MOSCOW, October 13. /TASS/. Ukraine offers to complete the repayment of its gas debt in March 2015, paying the first tranche of $1.451 billion, and paying off the remaining debt in equal tranches by March, Russian Energy Minister Alexander Novak told reporters on Monday.

The Russian Energy Ministry sent a proposal to the European Commission on October 3, saying that Ukraine should settle its gas debt for December 2013 worth $1.451 billion as a condition for new gas deliveries, he said.

According to Novak, Russia is ready to offer a more flexible schedule to Ukraine on condition that the whole sum is paid before the year end.

The next round of Russia-Ukraine-EU gas talks is scheduled to take place in Berlin Octover 21.

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
Russia-Ukraine gas dispute

Russia stopped gas flows to Ukraine in June over an unsettled dispute over debt and gas prices. Russia said it is ready to resume natural gas supplies to Ukraine if Kiev repays its gas debt and makes advance payments for new gas deliveries.

The Naftogaz oil and gas company stopped paying for the consumed Russian natural gas on March 25. As of August 1, the overall debt of Naftogaz to Gazprom for supplied gas totaled about $5.3 billion.

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