You're reading: PR Newswire: Ukraine pays world’s highest price for gas

Three years ago today Ukraine and Russia signed the infamous gas contracts. According to the agreement, arranged by the former Prime Minister Yulia Tymoshenko, Ukraine now pays USD 516 per thousand cubic meters of Russian gas - more than any other European country.
Ukrainian politicians keep making statements about the enormous strain the price is putting on the country's economy. Despite the notable discount Ukraine still overpays some USD 4 to 5 billion for gas annually. Member of Ukrainian parliament Inna Bohoslovska recently claimed Ukraine had lost around USD 12 billion in foregone earnings since signing the gas contract with Russia. Experts estimate that Ukraine could have built 44 hospitals with that money.

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