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135

Ukraine Ready to Pay Gas Debts: Prime Minister

The government of Ukraine will pass a special ruling that will commit their state oil company to pay off all gas debts to Russia

Ukraine Ready to Pay Gas Debts: Prime Minister

The government of Ukraine will pass a special ruling that will commit their state oil company to pay off all gas debts to Russia, Prime Minister Yulia Tymoshenko declared Wednesday.

The government-controlled Naftogaz owes $1.5 billion for consumed gas on aggregate. The company that claims it has cleared past year’s accounts, has been consuming the gas without any contracts since early this year.

Naftogaz paid some $770 million in settlement of the debt but refuses to recognize a material portion of it, reasoning the amount hasn’t been specified in the contracts.

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