You're reading: Azarov: Ukraine, Russia in talks on possible review of gas price formula

Ukraine and Russia have started discussing the possibility of reviewing the gas price formula, Prime Minister Mykola Azarov has said.

"A meeting with [Russian] Deputy Prime Minister [Igor] Sechin took place yesterday. It’s too early to talk about the results, but the process has started and it is very important for us," he said at a meeting with President of the European Bank for Reconstruction and Development (EBRD) Thomas Mirow in Kyiv on Wednesday.

Azarov said that Ukraine paid Russia around $8 billion for gas every year, describing the sum as "huge," and added that the optimal gas price for the Ukrainian economy was $200 per 1,000 cubic meters.

Azarov also said that he had discussed this possibility with Russian Prime Minister Vladimir Putin during his recent visit to Ukraine.

He said that at that time, as an example, he had cited the price of Russian gas for Poland and Germany, which, according to Kyiv, is significantly lower than the price for Ukraine.

"Of course, we understand that the negotiation process will be difficult. But in any case, the Russian prime minister had no answer to this question," Azarov said.

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