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EU Energy Commissioner Rules That Ukraine Must Pay Gas Debts to Russia
May. 26, 2014 08:56AM PST
Oil and Gas InvestingRT News reported today that EU Energy Commissioner Guenther Oettinger has ruled that Ukraine must begin to pay its debts to Russia. Ukraine owes $3.5 billion to Russia’s Gazprom (MCX:GAZP) for natural gas supplies.
RT News reported today that EU Energy Commissioner Guenther Oettinger has ruled that Ukraine must begin to pay its debts to Russia. Ukraine currently owes $3.5 billion to Russia’s Gazprom (MCX:GAZP) for natural gas supplies, according to RT News.
As quoted in the publication:
Oettinger suggests Ukraine use some of the $3.2 billion from its first IMF aid tranche and other EU assistance programs to start paying off its debt to Gazprom. Ukraine owes Russian state-owned Gazprom more than $3.5 billion, as it has not paid its gas bills in full since July 2013. Russia has even given Ukraine 10 billion cubic meters of gas free of charge, as much as Russia delivers to Poland in a year.
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