#AceFinanceNews – KIEV – April 16 – The troops from the disbanded Berkut special police force who were injured in the line of duty during the Maidan riots in Ukraine’s capital, Kiev, will receive financial assistance of 200,000 roubles (around $5,500), Russian Interior Minister Vladimir Kolokoltsev announced.
#AceFinanceNews – UKRAINE – April 10 – (Neurope) – Ukraine has suspended natural gas intake from Russia since April 1 as a result of a price hike, the country’s Energy Minister Yury Prodan said Wednesday.
"We are not pumping Russian gas today, but we still have time to resume the appropriate gas flows," Prodan told a media briefing. The suspension came after Russian gas monopoly Gazprom cancelled discounts on natural gas supplies to Ukraine, citing Kiev's non-fulfilment of its debt obligations and "changing circumstances" over Crimea. Russia set the price of gas to Ukraine at 485 U.S. dollars per 1,000 cubic meters. Prodan said his country is ready to resume gas imports from Gazprom if Moscow returns to the price of 385 dollars.
As of early April, Ukraine’s accumulated debt for gas supplies from Russia topped 2 billion dollars.
In 2010, Russia and Ukraine signed a gas-for-fleet agreement, with Moscow offering a discount for gas in exchange for extending its lease of the Black Sea Fleet in Crimea for another 25 years. The Kremlin said the pact was no longer valid as Crimea joined Russia after a referendum last month.
#AceFinanceNews – KIEV – April 05 – Ukraine is ready to buy Russian natural gas at a price of 268 U.S. dollars per 1,000 cubic metres, parliament-appointed Prime Minister Arseny Yatsenyuk said on Saturday, April 5.
He said Ukraine “does not accept” Russia’s decision to raise the price of gas from April 1 and regards it as “political pressure”.
“Political pressure will not pass. We do not accept the price of 500 U.S. dollars. Ukraine is ready to continue buying natural gas at the price that was in effect since the beginning of the year – 268 U.S. dollars. This is an acceptable and balanced price,” Yatsenyuk said.
He reiterated Kiev’s readiness to “make all payments for the previous gas supplies” and was waiting for Russia’s reply.
Gazprom CEO Alexei Miller said on Saturday that “the debt situation cannot continue endlessly. We cannot supply gas for free. The debt must be paid. And current deliveries must be paid in full, too. ”
He stressed that the debt was growing by the month and now only 20 percent of payments were collected, compared to about 50 percent just recently.
As a result, “Ukraine’s debt to Russia will grow by 5.6 billion U.S. dollars by the end of the year.
This is a huge amount of money. This is a very tangible negative result for Gazprom,” he said, adding that this money was already included in the company’s investment plans and budget.
#AceFinanceNews – KIEV- April 03 – Crimea will need 3-5 years and almost 5 billion U.S. dollars to achieve energy self-sufficiency, parliament-appointed Energy and Coal Industry Minister Yuri Prodan said.
“This is a very complex issue. Crimea is dependent in terms of energy, of course. The autonomy depends on the Ukrainian energy system by 90 percent, and if the ties are broken, the peninsula will face serious energy problems,” he told the Government Courier on Thursday, April 3.
He noted that the question of energy self-sufficiency “will be settled after the adoption of the law on temporarily occupied territories”.
The construction of new power generation capacities for Crimea will cost about 90-100 billion roubles, Russian Energy Minister Alexander Novak said earlier this week.
“On the average, we think that it will cost 1,500-2,000 U.S. dollars to build one kW of generation capacities. So 1,320 MW may cost 90-100 billion roubles at the current exchange rate,” the minister said.
He said natural gas for power generation in Crimea might come from the South Stream gas pipeline to pass by along the Black Sea bottom.
“These will most likely be power plants working on the gas which is extracted here in Crimea and the gas which can be taken from South Stream,” he said.
Crimea’s gas producing company Chernomorneftegaz plans to extract over two billion cubic metres of gas in 2014, which is 15 percent more than the peninsula needs, the CrimeaInform news agency said.
Russian and Crimea News
#AceFinanceNews – KIEV – April 03 – Ukraine has stopped supplying sugar to Crimea, Nikolay Yarchuk, the head of Ukraine’s national association of sugar producers, Ukrsakhar, told journalists on Thursday.
The country has “lost the Crimean market,” estimated at about 100,000 tonnes of sugar, Yarchuk said.
He noted that Ukraine also suspended sugar export to Central Asian countries over some difficulties with transportation through Russian territory.
“We have stopped exporting sugar to Central Asia as the transit of our goods through Russia was suspended,” Yarchuk said.
According to Ukrsakhar’s data, Ukraine exported about 140,000 tonnes of sugar from September 2012 to August 2013.
#AceFinanceNews – KIEV – April 01 – Ukraine’s Central Election Commission has finally registered the leader of the radical organization Right Sector, Dmitry Yarosh, as a presidential candidate in Ukraine’s snap presidential election, scheduled for May 25.
Four more candidates for Ukrainian president registered by Central Election Commission.
Earlier on Tuesday, the election commission put off the consideration of Yarosh’s registration documents to have time to clarify some financial aspects of the procedure.
Thus, some of the commission members voiced doubts that the sum of 2.5 million hryvnias (about 227,000 U.S. dollars) needed for the participation in the polls had been deposited by Yarosh personally.
According to Zhanna Usenko-Chernaya, a member of the Central Election Commission, Yarosh and his family members had declared no incomes in their tax returns for 2013.
#AceFinanceNews – MOSCOW – April 01 – Sochi Olympic kit and leisure sportswear outfitters, Russia’s BOSCO stores are withdrawing from the markets of Ukraine and Crimea, representatives told (Tass) on Tuesday.
A store executive based in Crimean Yalta could not say what had prompted the decision to close the store now located in Russia since Crimea’s accession to the Russian Federation.
All six stores operating in Ukraine and in Crimea will be closed.
There are two boutiques in Kiev, others in the cities of Kharkov and Donetsk in Ukraine’s mostly Russian-speaking east , and in the Black Sea city of Odessa in Ukraine’s south.
#AceFinanceNews – KIEV – March 31 – Chairman of the National Bank of Ukraine (NBU) Stepan Kubiv on Monday held the final meeting with a group of World Bank (WB) experts that worked in Ukraine in the period from March 24 to 28.
The NBU press service reported that the experts with Aleksander Pankov in the head had worked in Kiev in order “to determine the priorities and activity guidelines for the Ukrainian financial sector reform that can be implemented with support of the World Bank.”
The WB experts during last week had prepared a plan of action to promote the Ukrainian financial sector reform, the NBU press service said.
This programme can be financed by means of a WB loan worth up to one billion US dollars, granted within the programme of loans for development.
“The action plan will allow the Ukrainian banking system to make a cardinal reconstruction and strengthen stability of the banking sector,” the NBU stresses.
Simultaneously with the WB expert group, a mission of the International Monetary Fund (IMF) was working in Ukraine.
The IMF mission was co-ordinating the terms for granting a loan worth 14 – 18 billion US dollars.
Russian Finance News
#AceFinanceNews – KIEV- March 29 – Ukrainian oligarch and confectionery industry tycoon Pytro Poroshenko, who is going to run for presidency in the May 25 early election, told a congress of right-wing UDAR Party under-way in Kiev that he was going to finance his electoral campaign with his private monies.
He said it at a news conference after the closure of the congress where a decision was taken to nominate him for presidency.
“This campaign will be financed exclusively with my own money,” Poroshenko said. “
All the taxes have been paid on it.”
#AceFinanceNews – KIEV, March 29 – Ukraine’s state corporation Ukroboronprom has stopped supplies of weaponry and defense technologies to Russia, the Acting Director General of the corporation, Yuri Tereshchenko has told ZN.UA internet portal.
“Already today we don’t supply weaponry and defence technologies to Russia and our relations will remain frozen until the moment of de-escalation of the conflict,” he said.
Tereshchenko believes that relations with Russia in the sphere of economic and defence cooperation should be considered at the highest state level and at the National Security and Defence Council.
Tass – Russian Media