You're reading: Yanukovych: Litigation over gas contract ‘last resort’

Ukraine will continue dialogue with Russia on revising the gas supply contracts even despite the fact that Russia is insisting that it could agree to reduce the gas price only if Naftogaz Ukrainy merges with Gazprom, Ukrainian President Viktor Yanukovych said.

"We are maintaining dialogue all the time, and it will be continued today," Yanukovych told Ukrainian journalists at a CIS summit in Dushanbe on Saturday.

Negotiations between Ukraine and Russia on revising the gas price have continued for a year and a half, and such talks should proceed all the time between such partners as Ukraine and Russia, trade between which has reached $50 billion, he said.

"Therefore, we have to resolve this issue together. We do not have another option, and time will show how we can do that," he added.

Asked whether Ukraine could take the dispute to the Arbitration Institute of the Stockholm Chamber of Commerce if Russia disagrees to amend the gas contracts, Yanukovych said he views this step as a last resort.

"I hope we will have enough wisdom to find a solution together without going to court. I see the court as a last resort, after we exhaust all of our opportunities in negotiations," he said.