Ukraine Emits Currency to Pay for Russia Gas

Business » ENERGY | June 5, 2009, Friday // 16:17
Bulgaria Ukraine Emits Currency to Pay for Russia Gas: Ukraine Emits Currency to Pay for Russia Gas "I had no other choice, but to insist on the emission, and after done it is a matter of an hour payment to be made", Yushchenko commented. Photo by BGNES

The Ukrainian President, Viktor Yushchenko, has decided to order the emission of hrivnias (the Ukrainian national currency) for nearly USD 500 M to pay for the Russian gas.

"I had no other choice, but to insist on the emission, and after done it is a matter of an hour payment to be made", Yushchenko commented, as Darik Radio reported.

The Ukrainian Naftogaz owes Russia USD 158 M for the natural gas consumed in May, and nearly USD 500 M for gas put in storages, the President explained.

The deadline for the payment is Sunday.

The Ukrainian state-owned gas company "Naftogaz" is in a bad financial condition, and this has forced it to negotiate for loans with all possible partners, according to Bogdan Sokolovski from the Naftogaz management.

Russia's PM, Vladimir Putin, said Wednesday in Helsinki that Russian gas supplies for Europe through the Ukraine might be terminated complete at the end of June if the Ukraine failed to pay its dues.

 

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Energy » Be a reporter: Write and send your article
Tags: Russia, Ukraine, gas, Naftogaz

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria