Ukraine is holding talks with Russia on the revision of gas prices and hopes that they will come to a successful conclusion, Ukrainian Prime Minister Mykola Azarov has said.
"We are conducting these talks. They are difficult, but we have no choice, because the agreement signed by [former Prime Minister Yulia] Tymoshenko and a formula of $450 [per 1,000 cubic meters of gas] are immediately set as the basis. This formula doesn’t meet the current market realities," he told reporters in the village of Schaslyve in Kyiv region on Wednesday.
"Therefore, we will seek arguments. We still have time to convince our Russian partners [of the need to review the gas price]. I think that we’ll find the arguments," Azarov said.
