You're reading: Yanukovych wants gas, oil contracts with Russia to be optimized

Optimization of gas and oil contracts with Russia ranks among the tasks of Ukrainian-Russian strategic partnership, Ukraine's President Viktor Yanukovych said in his annual address to parliament, available to Interfax.

"Alongside strong political cooperation, Ukraine’s strategic partnership with the Russian Federation aims to guarantee uninterrupted and stable shipments of Russian energy to Europe via the Ukrainian gas transportation system, to optimize the terms of gas and oil contracts, signed with Russia, to expand trade in goods and services, and to remove barriers obstructing Ukrainian exports to the Russian market," he said.

As a result of "renewed bilateral relations" the two countries have reached an agreement to increase oil and gas transit via Ukraine, to optimize the terms of gas contracts and to broaden cooperation in electricity and energy saving," Yanukovych said in his address.