Uncategorized Ukraine Promises Russia to Find Funds to Pay for Winter Gas Supplies

Ukraine Promises Russia to Find Funds to Pay for Winter Gas Supplies

Russian Energy Minister Alexander Novak
Russian Energy Minister Alexander Novak

Ukraine does not guarantee gas prepayment, but has promised Russia to find funds to pay for winter gas deliveries in the amount of 4 billion cubic meters, Russian Energy Minister Alexander Novak said Thursday.

“Today it has been announced that Ukraine will find these funds. Such talks were held with the European Commission, with international financial organizations. We were told that Ukraine will find funds [to pay] for 4 billion cubic meters,” Novak said following the results of the trilateral gas talks in Brussels.
According to Novak, Russia is ready to sign the winter deliveries plan, if Ukraine agrees to prepayment system.
On Wednesday, Russia and Ukraine started the final round of gas talks, mediated by the European Commission (EC), to find an interim solution to the standoff over Ukraine’s unpaid gas bills and the price Kiev will pay for Russian gas supplies during the upcoming winter.
The gas dispute between Russia and Ukraine became especially acute when Gazprom switched Kiev to a prepayment system for gas supplies in June over Ukraine’s gas debt of more than $5 billion.
In September, Russia and the EC proposed the so-called «winter package», according to which Ukraine should pay $3.1 billion of its debt to Russia by the end of the year in exchange for gas deliveries during the winter period.
The trilateral talks are set to resume Thursday evening.
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