Ukraine Will Pay Almost Five Times More for the Russian Gas

This morning, Russia and Ukraine have reached an agreement regarding the crisis of natural gases, which has affected East European countries and western ones.

"We have reached a final agreement," Reuters quoted Gazprom Chief Executive Alexei Miller as saying during a news conference.

The Ukrainians have agreed to pay $230 per 1,000 cubic meters, and the Russian side has agreed to the increased transit fees paid by Gazprom for the pipes going through Ukraine.

"This agreement will ensure stable supplies to Europe," the Gazprom Chief Executive said.

Thus, the price the Ukrainians have agreed to pay for the Russian gas has increased almost five times, from an initial $50.

Compared to the price imposed on Ukraine, Belarus pays $47, and Estonia, Lithuania, and Latvia are all paying $110 per 1.000 cubic meters of natural gas.

However, according to Reuters, Oleksiy Ivchenko, head of Ukraine's Naftogaz, said during the same news conference that if the Russian gas was mixed with the one received from Turkmenistan and Kazakhstan, Kiev would pay only $95 per 1.000 cubic meters.

Russia accused Ukraine of stealing 100 million cubic meters of gas, with an estimated value of $25 million, which were supposed to go to other European countries, but the Ukrainian officials denied such an accusation.