Court obliges Ukraine to pay UESU debt to Russia.

By bne IntelliNews September 20, 2012
The Kyiv Economic Court has ordered the government to repay UAH 3.113bn of the debts United Energy Systems of Ukraine (UESU) owes to the Russian Defence Ministry, Judge Anatolii Ivchenko has announced at a session. The Russian Defense Ministry demands to collect from the government of Ukraine UAH 3.239bn for the UESU corporation debts to Russia. The Court has arrived at a conclusion that the 1996 letter from then prime minister Pavlo Lazarenko to the Russian Government on settlement of the matter of gas supplies to Ukraine was the Ukrainian Government's official guarantee of supplies of materials and equipment by UESU in discharge of indebtedness for delivered gas. The Court believes, the Ukrainian PM was authorized to grant such guarantees at his sole discretion. In 1995, Russia's Gazprom and UESU concluded an agreement for supply of Russian natural gas in 1996 for Ukrainian consumers in exchange for supplies of materials and equipment by UESU to Gazprom's enterprises and organisations. In the framework of this agreement, the UESU and Russia's Defence Ministry concluded a general agreement in 1996, under which the UESU had to pay for materials and equipment supplied to the Ministry instead of payment for them from Russia's national budget. But the UESU underpaid delivery of specified quantity of material and technical resources.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Metro Ukraine raises sales by 11% y/y to EUR 877mn in 2012.

In 2012, Metro Cash&Carry Ukraine, which is a retail division of the Metro Group (Germany), raised sales by 10.9% y/y to EUR 877mn, the company said. The company opened two new wholesale ... more

NBU: Gross external debt of Ukraine up 2% q/q in Q4/2012

The Naftogaz Ukrainy has repaid UAH 2.4bn worth of loans so far in 2013. The company was able to repay this amount of loans because of economy of natural gas in all areas of its operation, ... more

EC makes new recommendations for Ukraine.

The European Commission recommends Ukraine to focus on meeting its commitments under the association agenda, reads the ENP Country Progress Report 2012 - Ukraine released on Wednesday. In ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. Russia’s war economy boosted by rising oil prices
    3 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss