Yanukovych: Ukraine may agree to pay for gas in rubles, if Russia lowers gas price

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April 21, 2011, 4:56 p.m. | Business — by Interfax-Ukraine
Ukraine is ready to switch to paying for Russian gas in rubles, if Russia reconsiders its gas price formula, Ukrainian President Viktor Yanukovych has said. "Switching payments for gas between Ukraine and Russia to rubles is acceptable for us. We can go this way, but we believe that then our Russian partners should lower the coefficient in the gas pricing formula," he told reporters in Cherkasy on Thursday.

Yanukovych said that talks were currently being conducted on this issue at the initiative of Ukraine.

"The talks are difficult," he said.

Yanukovych also noted that Ukraine had the capability of paying in rubles.

"Anyway, the ruble exchange rate will be pegged to the dollar, so it is not of essential importance to us in terms of saving money.

But from the standpoint of us starting a positive movement towards each other in the pricing policy, as well as in economic and trade policy, this step may be justified," Yanukovych said.

He noted that the talks were currently being conducted at the level of gas industry experts and the national banks.

"This issue is a matter for coming negotiations, and time will show what the answer to these questions is, but we are not standing still," Yanukovych said.

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