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      Germany: Ukraine-Russia gas debt solution unveiled01:30

      Germany: Ukraine-Russia gas debt solution unveiled

      Germany, Berlin
      Politics
      May 26, 2014 at 18:13 GMT +00:00 · Published

      EU Energy Commissioner Gunther Oettinger unveiled a proposed solution to Ukraine's outstanding gas debt to Russia, at the European Commission building in Berlin on Monday. His press statement followed talks between delegates from Russia, Ukraine and the EU.

      Oettinger said the tripartite solution foresees Ukraine paying $2 billion (€1.4 billion) of its $3.5 billion (€2.56 billion) gas debts to Russia on Thursday. After that, a new gas price will be agreed upon, and the rest of the outstanding payments made. Oettinger had earlier proposed a 'market price' of between $200-$400 per 1,000 cubic metres to resolve the dispute.

      The agreement awaits acceptance by both Kiev and Moscow, by Wednesday.

      Oettinger added that the IMF and EU's "supportive measures" will enable Ukraine to pay its outstanding bills.

      Germany: Ukraine-Russia gas debt solution unveiled01:30
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      EU Energy Commissioner Gunther Oettinger unveiled a proposed solution to Ukraine's outstanding gas debt to Russia, at the European Commission building in Berlin on Monday. His press statement followed talks between delegates from Russia, Ukraine and the EU.

      Oettinger said the tripartite solution foresees Ukraine paying $2 billion (€1.4 billion) of its $3.5 billion (€2.56 billion) gas debts to Russia on Thursday. After that, a new gas price will be agreed upon, and the rest of the outstanding payments made. Oettinger had earlier proposed a 'market price' of between $200-$400 per 1,000 cubic metres to resolve the dispute.

      The agreement awaits acceptance by both Kiev and Moscow, by Wednesday.

      Oettinger added that the IMF and EU's "supportive measures" will enable Ukraine to pay its outstanding bills.

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