• Saturday, September 07, 2024
businessday logo

BusinessDay

Russia ready to renew gas talks with Kiev

businessday-icon

Russia said it was ready to renew gas talks with Kiev, but only if it paid its debts, in a possible offer of dialogue after the two nations’ leaders said they had discussed steps towards peace in eastern Ukraine.

Prime Minister Dmitry Medvedev, responding to a Ukrainian proposal to pay seasonal prices for Russian gas, said Moscow would resume supplies only if Kiev paid down its “astronomical debts” and named a gas price well over that previously cited by Kiev.

Earlier, Ukraine’s Prime Minister ArsenyYatseniuk proposed paying Moscow $385 per 1,000 cubic meters during the winter, and $300 in the low, summer season.

This price was dismissed by Medvedev, who said Ukraine should pay an average gas price of over $385 per 1,000 cubic meters – above the average price of $340 cited by Yatseniuk.

Russia cut off its exports to Ukraine in July in a dispute over pricing. Commenting on his country’s energy woes, Yatseniuk said Ukraine needed to buy some 25 billion cubic metres of natural gas to meet its annual needs.

Nigeria's leading finance and market intelligence news report. Also home to expert opinion and commentary on politics, sports, lifestyle, and more