Russia gives Ukraine cheap gas, $15 billion in loans

Russia gave Ukraine a steep discount on gas, and promised to buy $15 billion worth of the nation’s sovereigns in a deal struck during President Viktor Yanukovych’s trip to Moscow on December 17 2013. The deal is expected to give a short-term boost to the nation’s crippled finances, but it’s unclear what concessions Ukraine had to make in exchange.

yanukovch putin shaking hands kremlin ru

Russian President Putin said that the new price for Ukraine will be around $268.5 per billion cubic meters of gas, or $150 cheaper than the current price. This could save Ukraine several billion dollars per year, experts said.

For the full story, please visit The Kyiv Post.