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Ukraine Asks Europe for USD 4 B Loan to Pay for Russian Gas
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European Commissioner for External Relations Benita Ferrero Waldner (L) and Ukrainian Prime Minister Yulia Tymoshenko (R) pose for photographers at the start of EU Ukraine Council during the European General Affairs and External Relations council in Luxem
The Ukraine needs to get a loan of USD 4 B (EUR 2,9 B) from European banks in order to pay for its supplies of Russian natural gas.
This was declared by the Ukrainian Prime Minister, Yulia Tymoshenko, after her meeting with representatives of the EU in Luxembourg on Tuesday, BGNES reported.
Tymoshenko said Ukraine's difficulties with paying for Russian natural gas could be overcome with a European loan because the country's banking system could not react quickly enough to the need to come up with such a large sum.
"That is why we are working on the idea for loaning these resources from European banks and Europe supports this initiative, just as Russia does", the Ukrainian PM said.
Russia has warned a number of times that the Ukraine, which is badly affected by the global financial and economic crisis, could have difficulties covering its due natural gas payments, and that this could lead to a new natural gas supplies cutoff just like it did in January 2009.
Over 80% of Russian natural gas supplies for EU states go through the Ukraine. At the beginning of June, the Ukraine made its due natural gas payment to Gazprom just a couple of days before the deadline.
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