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Russia submits draft gas agreement to EU, Ukraine

October 24, 2014, 16:07 UTC+3 SOCHI
On October 17, Russia and Ukraine agreed on the gas price of US $385 per 1,000 cubic meters for the winter and Ukraine repaying at least $1.4 billion of its gas debt before the supplies restart
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Map of Ukraine's gas transportation system

Map of Ukraine's gas transportation system

©  EPA/SERGEY DOLZHENKO

Infographics Russia’s and Ukraine’s  stance in gas dispute Russia’s and Ukraine’s stance in gas dispute
Russia and Ukraine strive to agree on gas price, but still without success. Infographics by TASS
SOCHI, October 24. /TASS/. Russia has submitted a draft trilateral protocol agreement to solve gas dispute to the EU and Ukraine, Energy Minister Alexander Novak told reporters Friday.

“I gave the draft trilateral protocol agreement to our partners in Ukraine and the EU on October 21, it is under their consideration,” Novak said. “I do not have the information on what proposals our partners in negotiations are discussing. They have promised to speak them out at trilateral consultations on October 29,” Novak said.

On October 17, Russia and Ukraine agreed on the gas price of US $385 per 1,000 cubic meters for the winter and Ukraine repaying at least $1.4 billion of its gas debt before the supplies restart, however no agreement had been signed during the previous trilateral gas talks on Tuesday, as Kiev has no money to fully repay the debt.

On Tuesday, Vice President of the European Commission Gunther Oettinger said the EU will soon discuss additional short-term financial aid to Ukraine to help the country repay its gas debt.

Novak said that Russia is ready to sign a new gas agreement with Ukraine as soon as the EU provides financial guarantees for the repayment of the debt and advanced payment for further supplies.

Ukraine needs Russia to sign a legally binding document to set a fixed and unchangeable price for gas, Energy Minister Yury Prodan said.

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

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