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You're reading: Yanukovych says gas price setting formula in 2009 deal threatens Ukraine economy

Increases in gas prices in line with a contract signed by Ukraine and Russia in 2009 pose a threat to the Ukrainian economy, President Viktor Yanukovych said.

"The question of gas prices is very serious. We have found ourselves in an extremely difficult situation because the 2009 contract’s formula for setting gas prices does not match either economic or any other calculations in any way. But it remains valid today," Yanukovych said at a session of the Regions Council in Livadia, Crimea.

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