Russia Extends Gas Deal Deadline for Ukraine

World Today

Russia’s Gazprom has extended the deadline Ukraine has to settle its gas bill after receiving a partial payment of $786 million dollars. CCTV’s Jack Barton reports from the European Commission in Brussels on Monday, where negotiations between Kiev and Moscow continued.

Ukraine’s gas will not cut off until the new deadline for full payment, which is now the 9th of June. The extension was given after Russia’s Gazprom received partial payment on Ukraine’s three and a half billion-dollar outstanding energy bill.

The EU’s energy commissioner says a blueprint for an agreement was agreed between negotiators on Monday, which will now need to be agreed to in Kiev and Moscow. The key sticking point remains to be price.

Since the ousting of former Ukrainian president Viktor Yanakovych, Russia has raised the price of gas exports to Ukraine by about 80 percent which means the country is now expected to pay more for Russian gas than any other European country.

The talks are being negotiated by the EU, which receives about 15 percent of its Russia gas imports via Ukraine. Gas cuts or shortages would hit European manufacturers, households and even some transport companies hard.

However, analysts believe a deal could be in sight because Russia would prefer to avoid further complicating its relations with Europe, which along with Ukraine needs Russian gas.

Russia Extends Gas Deal Deadline for Ukraine

Russia Extends Gas Deal Deadline for Ukraine

Russia's Gazprom has extended the deadline Ukraine has to settle its gas bill after receiving a partial payment of $786 million dollars. CCTV's Jack Barton reports from the European Commission in Brussels on Monday, where negotiations between Kiev and Moscow continued.