Ukraine is provided with financial resources to pay for the Russian gas by the end of the year, says President's Commissioner for International Energy Security Bohdan Sokolovsky.

He particularly noted that these financial resources let pay both for gas that is being currently consumed, and gas that is being pumped into underground gas storages.

The Cabinet of Ministers had earlier decided to pay for gas to Russia's Gazprom at the expense of dividends from the activity of Naftogaz's daughter companies UkrNafta and UkrGaz-Energo.

The European Commission, Russia and Ukraine's representatives discussed on June 26 in Brussels a billion-worth credit for Naftogaz of Ukraine to pay for the Russian gas.

The EU then warned that only international finance institutions and European companies could provide the loan. The question was about terms. And the assistance can be provided only under certain conditions: Kyiv must undertake 'important obligations' to reform the gas sector and define the terms of this reform.

The second round of consultations took place in Kyiv on July 17. The international finance institutions asked the Ukrainian party to provide clear information about time frames of carrying out necessary reforms.

Prime Minister Yulia Tymoshenko sent a letter to the President of the European Commission saying that Ukraine is ready to carry out these reforms.
Source: UkrInform

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