Russia could invite Ukraine to Customs Union.

By bne IntelliNews April 8, 2011
Deputy chairman of Russian natural gas giant Gazprom Valery Golubev proposed that Ukraine could save up to USD 8bn annually on the supplies of natural gas, should the country join the Customs Union of Russia, Belarus and Kazakhstan. Currently Ukraine is getting a 30% discount for natural gas supplies, but the foreign tariff formula still applies for the Russian gas. No comments from Ukrainian or Russian officials were yet available. Recently Ukrainian president Viktor Yanukovich announced that the country is going to sign an agreement on free trade zone with EU by the end of 2011, while cooperation with the Customs Union and Ukraine is likely to take 3+1" from. As reported in October 2010, Customs Union between Russia, Belarus and Kazakhstan was functioning properly and by then brought about an increase in the tri-lateral trade of 25%-30%.

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