Ukraine, Russia, EU sign a $4,6 billion gas deal

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After seven rounds of gas negotiations, Ukraine, Russia and the European Union signed a 4,6 billion dollar gas deal on Thursday. The agreement will see Moscow resume vital supplies of gas to its ex-Soviet neighbour over the winter in return for payments funded in part by Kyiv’s Western creditors.

“I am delighted that I can announce a major success at the end of my mandate as President of the European Commission. With our strong support, Ukraine and Russia have today found agreement on their outstanding energy debt issues, and on an interim solution that enables supplies to continue this winter. I am glad that political responsibility, the logic of cooperation and simple economic sense have prevailed,” European Commission President José Manuel Barroso said.

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