NJSC Naftogaz of Ukraine and Russia's JSC Gazprom have signed a supplementary agreement to the existing contracts, under which the Ukrainian side will be able to pay for imported Russian gas in rubles, UKRINFORM reported.

This was agreed at the meeting of Ukraine's Energy and Coal Industry Minister Yuriy Boiko and Gazprom CEO Alexei Miller.

Boiko and Miller discussed prospects for bilateral cooperation, noting the usefulness of the existing dialogue, and expressed the view that negotiations on the Russian gas supplies to Ukraine appear to be completed by the end of 2011.

Naftogaz emphasizes that the possibility of settlement with Gazprom in rubles would bolster the financial stability of the company and strengthen its capability to obtain loans.

Earlier, the head of the National Bank of Ukraine Serhiy Arbuzov had said Ukraine would save USD 8 billion in foreign exchange reserves if it moves to the calculations for the Russian gas in rubles.

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