1/11/2014 11:58
RIA Novosti


Ukraine Awaits Russia’s Reply on $2 Bln Bailout – PM

Topic: Turbulence in Ukraine

Arseny Yatsenyuk
23:03 04/03/2014
Tags: Gazprom, Arseniy Yatsenyuk, Viktor Yanukovych, Vladimir Putin, Ukraine, Russia

KIEV, March 4 (RIA Novosti) – Ukraine is waiting for a “clear response” from Russia on a $2 billion loan needed to cover its debt for Russian gas supplies, Prime Minister Arseniy Yatsenyuk said Tuesday.

Yatsenyuk said that Ukraine owes Russia about $2 billion “in debts, racked up by the previous cabinet and the previous president.”

“Russia promised to give a loan of $2 billion, intended to cover gas debts that originated under former President Viktor Yanukovych. We would like to hear a clear response from Russia on whether it wants to fulfill the obligations it undertook several months ago,” the Ukrainian premier said.

He said that the new leadership in Kiev was ready for extensive dialog with Russia and that first contacts between the two governments had already taken place.

The vast majority of Ukraine’s natural gas is imported from Russia’s state-owned Gazprom. Russia granted a substantial gas discount to the Yanukovych government as part of a package of aid that included a pledge to provide a $15 billion bailout in December.

This followed Yanukovych’s decision to reject an association agreement with the European Union in November, which triggered massive anti-government protests that led to his overthrow in February. 

Russia planned to purchase $2 billion worth of Ukrainian eurobonds last month as the second tranche of its aid package, following a $3 billion purchase of Ukrainian bonds in December.

Ukraine’s economy is teetering on the verge of bankruptcy as it tackles a punishing balance-of-payments crisis.

President Vladimir Putin said on Tuesday that Ukraine’s debt would rise to $2 billion from the current $1.5-1.6 billion if it was late with its payment for deliveries of gas in February.


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RIA NovostiArseny YatsenyukUkraine Awaits Russia’s Reply on $2 Bln Bailout – PM

23:03 04/03/2014 Ukraine is waiting for a “clear response” from Russia on a $2 billion loan needed to cover its debt for Russian gas supplies, Prime Minister Arseniy Yatsenyuk said Tuesday.>>

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  • sophismosUkraina should sell the Crimea
    23:21, 04/03/2014
    The 15 bln bailout, which Russia wanted to pay, is on the background of the EAU. Now this option is impossible. Therefore the bailout would be stopped. But Ukraina should sell the Crimea, because it can't hold that peninsula not for long.
    Russia gets legal the peninsula and the Ukraina is saved from beeing bancrupt.
    A win-win situation.
  • ruypenalvaNo loans, Putin.
    23:22, 04/03/2014
    No loans, Putin. They should seek help from occidental countries that help them to ouster the former president.
  • bielecThe short answer is, "No"
    06:34, 05/03/2014
    First off, the deals and obligations negotiated "several months ago," were a two way road, something for something. Maybe the other "something" was to delay the accession of Ukraine to EU and NATO, which obviously was in Russia's best interest. It was not a one-way deal.

    Secondly, that deal was negotiated with a legitimate government of Ukraine. The current "government" is unconstitutional and it does not represent the majority of Ukrainians who, three years ago, had voted for president Yanukovych.

    Finally, the idea of issuing a loan to pay a previous loan in not very reasonable. Ukraine's inability to pay off the first loan is not a good predictor for future solvency.

    Buying Crimea could be an option, but it is not the best idea, as it would limit any future adjustments. I would wait for a referendum in the entire Southern and Eastern Ukraine. It is possible that people will decide to form a separate government and declare independence or join Russia. Only "the people" have the right to such self-determination. Such a possibility should be explored as part of the current normalization. A referendum would be the only guaranty of a lasting peace. The 15 billion dollars could then be used to help the New Ukraine economically.
  • Mikhail1228No
    16:47, 05/03/2014
    Russia should not give one kopek to Ukraine. Let this EU and US butt licker Yatsenyuk get it from his EU and US masters!
    20:49, 05/03/2014
    Of course Russia should HELP UKRAINA.

    Forget waht happened on the MAIDAN...it was JUST MUCH TO DO ABOUT NOTHING!

    Ukraina knows...WE,ALL...Germans,BUlgarians,Ukrainians are chained on WHAT? ON THE PIPELINES going from Russia through UKRAINA.

    We ,ALL are in a bad marriage...NO divorce! HaHaHaaaaaaaaaaaaaa

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