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EU, Ukraine Strike Deal to Guarantee Russia Gas Supplies
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The EU has made a deal with the Ukraine in order to guarantee its supplies of Russian gas. Photo by EPA/BGNES
The Ukraine has achieved an agreement with the EU and international financial institutions that is going to help the country pay for the natural gas it gets from Russia.
This becomes clear from a European Commission statement released Friday, which says the deal would provide the Ukraine with the money to fill its natural gas storage facilities.
It provides for a third transfer of USD 3,3 B from the IMF for the Ukraine under a credit line for a total of USD 16,4 B for two years. In addition, the Ukraine will get a total of EUR 570 M from the World Bank and the European Bank for Reconstruction and Development.
The EC President Barroso is quoted as saying that the new deal was expected to reduce the risk of a new gas crisis between Russian and the Ukraine, and thus to guarantee the stability of Europe's energy supply.
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