Εμφάνιση αναρτήσεων με ετικέτα IMF. Εμφάνιση όλων των αναρτήσεων
Εμφάνιση αναρτήσεων με ετικέτα IMF. Εμφάνιση όλων των αναρτήσεων

Τετάρτη, 5 Νοεμβρίου 2014

EU to Continue Financial Aid Provision for Ukraine's Gas Debt Repayment (Official)

The European Union intends to continue the provision of financial assistance to Ukraine to help the country repay its debt for Russian gas, EU Ambassador to Russia Vigaudas Ushatskas stated Wednesday.

"Our aid reaches billion euros, including what we have already given and will give [to Ukraine]. We have been helping to reach a treaty between Russia and Ukraine on the whole range of complex gas issues. And we will allocate the amounts that will be needed to pay off [debts for] gas," Ushatskas told Ekho Moskvy radio.

According to him, the European Union and Russia share common interests in stabilizing the situation in Ukraine.

"Neither Russia, nor the European Commission, nor the IMF should be some kind of 'auntie' that would care for Ukraine all the time... Of course, this requires internal political, economic and social reforms for Ukraine not to be proclaimed as the most corrupt political system. On this basis the European Union highlights the unprecedented volumes of aid to Ukraine," Ushatskas added.

Ukraine's state oil and gas company Naftogaz said Tuesday that it had transferred the first tranche of $1.45 billion of its gas debt to Russia.

The final round of gas talks on October 30 between Russia and Ukraine, brokered by the European Union, ended with the signing of the so-called winter package agreement securing gas supplies to Ukraine until March.

Under the agreement, Russia will resume its delivery of gas to Ukraine at a price of $378 per 1,000 cubic meters till the end of 2014 and $365 for the same amount in the first quarter of 2015, while Kiev must pay Gazprom $3.1 billion of its debt to the company before the end of the year.

Gazprom switched Ukraine to a prepayment system for gas deliveries over its debt of more than $5 billion in June.
(RIA Novosti)
5/11/14
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Δευτέρα, 3 Νοεμβρίου 2014

Kiev Agrees With IMF to Pay for Russian Gas During Winter Period From Own Exchange Reserve

Kiev has agreed with International Monetary Fund (IMF) that it will pay for Russian gas during the winter period from Ukraine's exchange reserves, the country's national bank said.

"We managed to agree with IMF that the payments for the gas can be made from our own exchange reserves and IMF will support us. That is why we are confident we can support all the payments to Gazprom on the recent gas agreement," the Head of Ukraine's National Bank Valeriia Gontareva said at the press briefing.
Earlier on Monday, Ukraine's Energy Minister Yuriy Prodan told RIA Novosti that Kiev has not yet paid for Russian gas, but aims to do so in the near future...................http://en.ria.ru/business/20141103/195047378/Kiev-Agrees-With-IMF-to-Pay-for-Russian-Gas-During-Winter-Period.html
3/11/14
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Πέμπτη, 2 Οκτωβρίου 2014

Date for Trilateral Gas Talks Remains Undefined: Ukraine’s Energy Ministry

BRUSSELS, October 2  – The exact date for the next round of gas talks between Russia, Ukraine and the European Union has not been set yet, Ukrainian Energy Minister Yuriy Prodan told journalists Thursday.

"[The date] is undefined," Prodan, who held a bilateral meeting with EU Energy Commissioner Gunther Oettinger earlier on Thursday, said.

On Wednesday, Prodan said that the trilateral gas talks in the European Union-Russia-Ukraine format were likely to be held on Friday.


Later in the day, the Russian energy ministry's press service said the talks would not be held this week and that the date of the trilateral gas meeting would be determined next week.

Kiev is not happy with the winter package for Russia's natural gas deliveries to Ukraine, endorsed by Russia and the European Commission during the ministerial gas meeting in Berlin last Friday.

According to the plan, Ukraine would have to repay $3.1 billion of its gas debt to Russia and pay in advance for the delivery of five billion cubic meters of gas at a price of $385 per 1,000 cubic meters, with a discount of $100.

Kiev, however, rejects Russia's offer of the discount in the form of an export-duty exemption and wants the contract price to be reduced instead.

Ukraine also wants to agree the debt repayment schedule, as well as terms and schedules of future gas deliveries and insists on amending the current gas contract with Russia in order to formally authorize reverse deliveries of Russian gas to Ukraine from Europe.

(RIA Novosti)
2/10/14
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Τετάρτη, 1 Οκτωβρίου 2014

Ukraine-Russia-EU gas talks postponed till next week. --Ukraine’s debt for gas exceeds $5 billion

The trilateral Russia-EU-Ukraine talks have been postponed till next week, a European Commission representative told TASS on Wednesday.
Russian Energy Ministry spokesperson also told TASS that the talks have been postponed.

Previous round of talks

After the tripartite talks in Berlin on September 26 Russia, the EU and Ukraine prepared a new package on the gas problem. The agreement should be coordinated by the governments of the countries.

European Energy Commissioner Gunther Oettinger, explaining the new agreement at a press conference after the meeting in Berlin, said Ukraine must pay $3.1 billion until the end of this year to repay its debt to Gazprom for the already supplied gas. The Russian company will supply five billion cubic meters of gas to Ukraine and give an option for five billion cubic meters more. The price will be set at $385 for 1,000 cubic metres with a $100 discount (from $485 Russia previously insisted on). The discount will be in force only for the next six months.
Ukraine will pay $2 billion to Gazprom before October 2 for the supplied gas, and at least $1.1 billion until the end of 2014, the EU commissioner said. Thus, $3.1 billion must be paid until the end of this year.
Oettinger said final payment to settle the debts must be made after the arbitration consideration (no earlier than in the summer of 2015). The final settlement will depend on the court decision.
Ukraine’s debt for gas exceeds $5 billion.
http://en.itar-tass.com/economy/752259
1/10/14
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Τρίτη, 30 Σεπτεμβρίου 2014

Ukrainian Energy Ministry Not Satisfied With Berlin ‘Winter Plan’ on Gas

The Ukrainian Energy Ministry said Tuesday it had three reasons to object the “Winter Plan” on gas, endorsed by Russia and the European Commission during the ministerial gas meeting in Berlin last Friday.

The plan envisages that Kiev repays of $3.1 billion of its gas debt to Russia and pays in advance to Gazprom for the delivery of five billion cubic meters of gas at the price of $385 per 1,000 cubic meters, with a discount of $100. The plan, intended to reduce risks for transit of Europe-bound Russian gas via Ukraine, is to be in place until late March.


Kiev, however, rejects Russia’s offer of the $100 gas-price discount in the form of an export-duty exemption and wants the contract price to be reduced instead.

Ukraine also wants to agree the debt repayment schedule, as well as terms and schedules of future gas deliveries.

Kiev also insists on amending the current gas contract with Russia in order to formally authorize the reverse deliveries of Russian gas to Ukraine from Europe.

Earlier on Tuesday, Russian Energy Minister Alexander Novak said that Russia is ready for the "Winter Plan" of delivering natural gas to Ukraine and is waiting for Kiev's reaction.

Moscow and Kiev have a long history of disputes over natural gas deliveries. In June, Russia's gas giant Gazprom was forced to introduce a prepayment system for gas deliveries to Ukraine due to Kiev's massive debt which is currently estimated at $5.3 billion.

As Ukraine is not only a consumer, but also a major transit country for Russian gas supplies to Europe, the European Union has repeatedly emphasized the importance of trilateral gas talks, the next round of which is scheduled to take place in Berlin on October 2 and 3.

(RIA Novosti)
30/9/14
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Russia Ready to Implement 'Winter Gas Plan,' Waiting for Kiev's Response (Alexander Novak, Energy Minister)

Russia is ready to implement the “winter plan” of delivering natural gas to Ukraine and is waiting for Kiev’s reaction, Russian Energy Minister Alexander Novak said Tuesday.

“It all depends on Ukraine. I believe that from our side we are practically ready to do everything that we agreed on in regard to this packet. We’ll wait for a reaction from Ukraine in the next few days when everything becomes clear,” Novak told journalists.

The “winter gas packet” is due to be sent to the Russian government for approval soon.


“First, the three parties [Russia, Ukraine, EU] need to agree during the trilateral consultations, then we’ll be able to talk about the next steps: putting it on the government’s agenda,” Novak said.

Earlier, Novak said the next trilateral gas talks were scheduled to take place in Berlin on October 2-3.

In June, Russian gas giant Gazprom introduced a prepayment system for gas deliveries to Ukraine over Kiev's refusal to pay off its gas debt that currently is in excess of $5 billion.

Gazprom's head, Alexey Miller, said that Russia insisted that Ukraine pay $2 billion of its total debt in October and another $1.1 billion by the end of the year.

Ukraine's Minister of Energy Yuri Prodan said that Ukraine would first make an advance payment of $1.9 billion for the future delivery of five billion cubic meters of gas and then pay another $1.5 billion, as part of the debt, at the end of October, followed by $800 million in November and December.

The European Union has repeatedly emphasized the importance of trilateral gas talks, fearing possible troubles with gas transit to Europe via Ukraine.

 (RIA Novosti)
30/9/14
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Πέμπτη, 27 Μαρτίου 2014

Ukraine to hike gas rates by 50% for IMF loan. -The IMF programme's approval would set in motion the release of further assistance from both Washington and the European Union.

Ukraine agreed on Wednesday to quickly hike domestic gas prices by as much as 50 percent to meet a key loan condition set by the International Monetary Fund (IMF) for the crisis-hit ex-Soviet state.The new Western-backed government in Kiev is seeking $15-20 billion (11-14.5 billion euros) in IMF assistance in order to balance its books and meet a series of foreign loan repayments.An IMF team met with Prime Minister Arseniy Yatsenyuk in Kiev on Wednesday for what Ukrainian officials hoped would be a final round of talks before the package is approved in Washington next month.
The Fund has made an immediate end to Ukraine's costly gas subsidies one of its prime conditions for the programme's approval.

It also wants the central bank to stop propping up the Ukrainian currency and for the government to cut down on corruption and red tape.A top official at Ukraine's Naftogaz state energy company said Kiev was willing to raise the price households pay for natural gas by 50 per cent as of May 1.Naftogaz budget and planning director Yury Kolbushkin added that rates for district heating companies would go up by 40 per cent on July 1.Kolbushkin indicated that these prices would increase still further in the coming years."We will publish a document that sets a schedule for rate increases through 2018," Ukrainian media quoted Kolbushkin as saying.Ukraine's central bank has already limited its currency interventions -- a decision that has seen the hryvnia lose 26.4 per cent of its value against the dollar since the start of the year.
  • The IMF programme's approval would set in motion the release of further assistance from both Washington and the European Union.
Yatsenyuk said he expected EU officials to send 1.6 billion euros ($2.2 billion) to Kiev within two months of its approval.The United States has also pledged $1 billion (720 million euros) in loan guarantees while Japan has promised up to $1.5 billion (1.1 billion euros)..........http://www.ellanodikis.net/2014/03/ukraine-to-hike-gas-rates-by-50-for-imf.html
26/3/14

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