Ukraine to pay debt to Gazprom after price cuts - minister

Ukraine will not repay its gas debt for March supplies to Russian giant Gazprom until it gets back all discounts which were cancelled April 1, Energy and Coal Industry Minister Yury Prodan said on April 9, RIA Novosti reported.

“We have not fully paid for March yet because we’ve sent our proposals concerning pricing and supply volume approaches to Gazprom. Unfortunately, we have not received a positive answer from Gazprom so far,” Prodan said. “We are ready to pay but we need to understand the price situation.”

Russia hiked the price to U.S. $485.5 per 1,000 cubic meters, cancelling Gazprom’s discounts granted in December when pro-Russian President Viktor Yanukovich was in power and a $100 discount for the Russian fleet deployment in Crimea.

Copyright: RIA Novosti, 2014