Ukraine can use EU loan to pay gas debt to Russia - EC official

May 14, 2014

Ukraine will be able to use the EU’s financial assistance to pay off its debt for Russian gas, a spokesman for the European Commission on economic and monetary affairs said on May 13, RIA Novosti has reported.

"This is support for the Ukrainian budget with a view [to enabling Ukraine] to make the necessary payments in the energy sector," Simon O'Connor said.

Ukraine has not paid for Russian gas for two months. According to Gazprom, Ukraine’s accumulated debt for previous deliveries totals $3.5 billion. On April 1, the price of Russian gas for Ukraine rose to $485 per thousand cubic meters from $268.50, as Russia withdrew two major discounts.

Copyright: RIA Novosti, 2014