Ukraine hopes to complete gas talks with Russia in November.

By bne IntelliNews November 7, 2011
Ukraine hopes to complete talks with Russia on the revision of the current gas contracts in November, Ukrainian Economic Development and Trade Minister Andrei Klyuyev said. He added that due to the uncertainty about the price for the Russian gas, the government has not yet approved of the amount of subventions to local budgets, which are supposed to cover the difference in gas tariffs for the consumers. Moreover, Ukraine will use its vote as a tool of influence when discussing the question of Russia's accession to the World Trade Organization (WTO) during gas talks with Russia, Klyuyev added. Ukraine is seeking a review of gas deals with Russia, claiming the 2009 contract`s gas price formula is unfair. Moscow has tied the price for gas to the international spot price for oil, which rose strongly after that year due to the instability in the Middle East.

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