Savings from reduced gas price will be spent on modernization of economy, Premier Mykola Azarov told the Cabinet opening a sitting, ForUm's correspondent reports.

"A historical event took place yesterday. After three and a half years of enslaving gas contract the President of Ukraine has managed to put an end to the treason. The head of state has reached an agreement on economically reasonable gas price, valid till the end of the current contract, which opens wide possibilities for Ukrainian industry, power engineering, housing services and enables to save means for modernization of economy," he said.

Moreover, according to the PM, another important agreement was reached yesterday. "I speak about agreements on lifting restrictions in the trade economic relations and on improving of trade turnover," Azarov said and added that the agreements signed by the President would enable Ukraine to realize large-scale project of development and modernization of industry, infrastructure, etc.

As reported, on December 17 in Moscow Presidents Viktor Yanukovych and Vladimir Putin held the sixth sitting of Ukrainian-Russian interstate commission. As a result, 14 documents were signed.


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