Russia scraps last gas discount to Ukraine, hikes price
Published on Apr 3, 2014 9:03 PM
MOSCOW (AFP) - Russian Prime Minister Dmitry Medvedev said on Thursday that he has scrapped the last discount on gas price granted by Moscow to Ukraine, effectively raising the price by US$100 (S$126) to US$485 (S$612) for every 1,000 cubic metres.
"I am taking the decision to denounce the government decree from 30 April 2010," Mr Medvedev said, referring to the discount on Russia granted to its neighbour in exchange for keeping its Black Sea Fleet facilities in Crimea's port of Sevastopol.
The decision means that "the price on gas for Ukraine is automatically...going up and will be US$485 for 1000cm starting in April," Gazprom chief Alexei Miller told Mr Medvedev as the two were shown meeting on state television.
Russian President Vladimir Putin on Wednesday ended Russia's agreements with Ukraine over the status of its Black Sea fleet, which had been based in Sevastopol since the tsarist era.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here