` Ukraine's Overall debt to ` Russia ' stands at $16.6 Billion of which $2.2 Billion is Accumulated Gas Debt '

#AceFinanceNews – MOSCOW – April 09 – Ukraine’s overall debt to Russia stands at $16.6 billion, Russian Prime Minister Dmitry Medvedev said Wednesday at a meeting with President Vladimir Putin dedicated to the situation around Ukraine.

“Three billion dollars is Ukraine’s debt, the accumulated gas debt stands at $2.2 billion, and what we consider Russia’s profit shortfall stands $11.4 billion, which brings the total sum to $16.6 billion,” Medvedev said.

“We use the same approach in regard to our Ukrainian partners as regarding other partners, the key principle is that contracts should be implemented,” the Russian premier said.

He recalled that Russia and Ukraine have an agreement signed in 2009, which should be implemented. In his words, the document stipulates “a switch to the advance system of gas payments if the debt has not been repaid”.

“We could have switched to the advance payment system earlier, but we did not do that because we understood the difficult economic situation in Ukraine,” Medvedev said.

Russian Finance News


#debt, #dmitry-medvedev, #moscow, #president-vladimir-putin, #russias, #russian, #ukraine, #ukrainian

` Russia's `Gazprom ' Signs Agreement with `Kyrgyzstan ' on `Purchase ' of 100% of Shares Kyrgyzgaz at $1 '

#AceFinanceNews – BISHKEK – April 10 – Russia’s Gazprom natural gas monopoly on Thursday signed with Kyrgyzstan an agreement on the purchase of 100% of shares of Kyrgyzstan’s debt-ridden state gas company Kyrgyzgaz for $1.

The new Gazprom unit will be called Gazprom-Kyrgyzstan, Gazprom CEO Alexei Miller said. According to him, “the main goal of the new company will be to ensure uninterrupted supply of natural gas in the needed volumes to Kyrgyz consumers.”

Under the bilateral agreement, Gazprom will allocate at least 20 billion rubles within 5 years for the modernization of gas distribution networks of Kyrgyzstan the length of which is some 700 kilometers.

“We also intend to resume geological prospecting work in Kyrgyzstan in order to raise the republic’s potential. Today, the country produces less than 30 million cubic meters of gas, and we intend to increase this share, as well as the number of gas consumers in Kyrgyzstan,” Miller said.

Russian Oil and News Sources


#gazprom, #kyrgyzgaz, #kyrgyzstan, #russias

` Ford Motor with Russia’s Soller’s Joint Venture will Suspend Production for a week laying off 700 Employees ‘

#AceFinanceNews – MOSCOW – April 09 – Ford Sollers car making plant, a joint venture of Ford Motor Company and Sollers, has suspended production for a week from April 7 to 15

Ford car making joint venture situated in the city of Vsevolozhsk in north-western Russia’s Leningrad Region will pass to production in one working shift and will lay off about 700 employees (the Ford joint venture has 2,267 employees now), additional days of idleness are introduced with further transition to the work in one shift.

The labour state inspection has made a warning to the general director of the joint venture that it was impermissible to violate labour legislation in staff dismissal.


#ans2014, #ford-motor-companyfmc, #leningrad, #moscow, #russias, #sollers

` National Bank of Ukraine has denied information about a seizure of its building in Luhansk Region ‘

#AceFinanceNews – KYIV – April 07 – (Interfax) – The National Bank of Ukraine has denied information about a seizure of its building in the Luhansk region, saying its department in the Luhansk region is working normally.

“The information about a seizure of the National Bank building in the Luhansk region reported by some news media today is not true. As of Monday, April 7, 2014, the establishment was working normally. All divisions are in their places and are fulfilling their functions,” the National Bank press service reported on Monday.

Retraction: RIA Novosti

National Bank Rejects Reports of Branch Seizure in Eastern Ukraine

14:33 07/04/2014

The National Bank of Ukraine denied reports on Monday that its branch in the eastern Ukrainian city of Lugansk was seized by demonstrators demanding greater regional autonomy, the UNIAN news agency reported Monday.

KIEV, April 7 (RIA Novosti) – The National Bank of Ukraine denied reports on Monday that its branch in the eastern Ukrainian city of Lugansk was seized by demonstrators demanding greater regional autonomy, the UNIAN news agency reported Monday.

“We officially announce that this information is false,” the agency said, citing the bank’s press service, which also added the branch is operating normally.

A group of protesters pushing for broader regional autonomy stormed government buildings in Donetsk, Lugansk and Kharkov in eastern Ukraine on Sunday, according to local media reports.

Nearly 3,000 people reportedly took control of the national bank’s building in Lugansk. Demonstrators flooded the streets in the city, waving Russian flags and chanting “Russia! Russia!”

Calls for secession and federalization have been spreading across Ukraine’s mainly Russian-speaking eastern regions after Ukrainian ultra-nationalists, who make up the bulk of the erstwhile opposition, rose to political prominence following a change of the country’s leadership that resembled a coup in February.

Protesters in eastern Ukraine, who have refused to recognize the legitimacy of the new authorities, have been gathering since March, demanding referendums on the status of their regions.

Talk turned to action in Crimea, a predominantly Russian-ethnic peninsula, which voted overwhelmingly to rejoin Russia in a referendum on March 16. The region’s reunification with Russia was finalized several days later.

Russian Foreign Minister Sergei Lavrov said late last month Russia has no intentions or interests whatsoever in crossing the Ukrainian border.

He also said Moscow believes the only solution to the political crisis in the country is constitutional reform providing for the federalization of the country, which is split linguistically into a Russian-speaking east and a Ukrainian-speaking west.

A recent report by Russia’s Institute for Globalization and Social Movements (IGSO) said the presidential election in Ukraine could increase separatist tendencies in eastern and southern regions, adding the country might split after the May 25 election.


© 2014 RIA Novost


#crimea, #institute-for-globalisation-and-social-movements-igso, #kyiv, #luhansk, #moscow, #national-bank-of-ukraine, #russias, #russian, #russian-foreign-minister-sergei-lavrov

` Ukraine Will Pay $268 US-Dollars then Repay their Debt and Does Not Accept Russia’s Decision to Raise Price ‘

#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.


#ans2014, #arseniy-yatsenyuk, #ceo-alexei-miller, #gazprom, #kiev, #russia, #russias, #russian, #ukraine, #ukraines

Russians Energy Minster says ` Domestic Gas Prices in `Europe ' Could Rise by 50 Percent if it Cut's Supplies from Russia '

#AceFinanceNews – EUROPE – April 04 – (RT) – “Moving away from pipeline transportation of natural gas, construction of terminals and deliveries of liquefied natural gas will lead to an increase in gas prices in Europe from the current $380 per 1,000 cubic metres to at least $550,” Novak said in an interview to the Russia 24 TV Channel.

“And the question arises: are the economies of European countries ready to supply and consume gas at such a price?” the Minister asked.

The US has insisted that Europe needs to urgently cut its dependence on Russian gas, with the US Secretary of State John Kerry saying Moscow should no’t use energy exports as a political weapon.

“It really boils down to this: no nation should use energy to stymie a people’s aspirations,” Kerry said in Brussels on Thursday, the same day Russia’s Gazprom increased the price to Ukraine another $100 per 1,000 cubic metres.

On Wednesday the US and EU reaffirmed their plan to move away from Russian gas, stressing that developments in Ukraine “have brought energy security concerns to the fore” .

Meanwhile, Russian energy companies have started to feel the pulse in markets outside Europe, mostly focusing on Asia.

Gazprom talked to Kuwait and Egypt about increasing LNG supplies and hopes to sign a long-term supply deal with China next month.

Also, the president of Russia’s oil major Rosneft has toured Japan, South Korea, Vietnam and India.



#ans2014, #asia, #china, #egypt, #eu, #europe, #european, #gazprom, #india, #japan, #john-kerry, #kuwait, #moscow, #rosneft, #russia-24-tv-channel, #russias, #russian, #south-korea, #ukraine, #vietnam

` Rosneft wants to purchase a Majority Stake in State-Controlled company that owns all of Kyrgyzstan’s Airport’s’

#AceFinanceNews – KYRGYZSTAN – April 02 – Russia’s state-run oil giant Rosneft wants to purchase a majority stake in the state-controlled company that owns all of Kyrgyzstan’s civilian airports.

The negotiations are stoking concern in some circles in Bishkek about the potential risk to Kyrgyzstan’s sovereignty.

But with its entrenched corruption, poor governance and remote location, the Central Asian country has few other options.

Rosneft’s takeover target is a company called Manas International Airport, named for the largest of the airfields under its control.

In addition to Manas, which is situated outside Bishkek, the company operates 10 smaller (mostly non-functional) airports around the country.

The Manas facility has hosted an American military base for almost 13 years, but the troops are packing up and are due to leave by July.

Without the American spending, Kyrgyz officials argue, the company, which is 79 percent state-owned, will go into the red.

“Originally published by EurasiaNet.org”. http://www.eurasianet.org.


#american, #bishkek, #kyrgyzstan, #manas-international-airport, #rosneft, #russias

` Bosco Russia’s Leisure and Sportswear Outfitter’s Closing All 6 Stores Operating in the Ukraine and Crimea ‘

#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.


#ans2014, #black-sea, #bosco, #crimea, #crimean, #donetsk, #kharkov, #kiev, #moscow, #odessa, #russias, #russian, #russian-federation, #sochi, #ukraine, #ukraines, #yalta

` Putin calls for ` Greater Measures’ to protect their `Intellectual Property Rights ‘ in light of recent Events’

#AceFinanceNews – MOSCOW – March 27 – Russian President Vladimir Putin has called for taking additional measures to protect intellectual property rights.

“It’s a very important sphere, and we have much to accomplish here. The latest analysis showed that the decisions made in the sphere of protection of intellectual property in film-making were not as effective as we had hoped,” Putin said at a meeting with members of the Federation Council upper house of Russia’s parliament on Thursday.

He referred to any new film release as an example. A week-long show of a new film on a website is enough to dismantle all the protection, the president said, adding that “we have to consider additional moves to protect intellectual property.

Ace Contract Services News


#federation-council, #moscow, #russias, #russian-president-vladimir-putin

` Angela Merkel does not want to ` Impose Economic Sanctions ‘ on ` Moscow ‘ in talks with Park Guen-hye ‘

#AceFinanceNews – BERLIN – March 27 – German Chancellor Angela Merkel has said the crisis around Ukraine should be resolved by political means without imposing economic sanctions on Russia.

Merkel said in Berlin on Wednesday after talks with South Korean President Park Geun-hye that the West “has not reached a stage that implies the imposition of economic sanctions” on Moscow.

“And I hope we will be able to avoid it,” she said. “I am not interested in escalation. On the contrary, I am working on de-escalation of the situation.”

German experts say economic sanctions against Russia that Western countries could impose for Russia’s position on the situation in Ukraine and Crimea would negatively affect Germany’s economy.

The German-Russian trade in 2013 totalled 76 billion euros; some 6,000 German companies do business with Russian enterprises; the overall volume of their investment totals 20 billion euros. Some 300,000 jobs in Germany depend on the country’s economic relations with Russia.

Earlier Wednesday, Russian Finance Minister Anton Siluanov commented on ratings agencies’ actions to revise the outlook on Russia’s sovereign rating.

“At present, the investors’ worries are connected with the consequences of sanctions. We see ratings agencies lower the outlook on Russia’s ratings.

It certainly puts us on alert. There are no basic grounds for changing the general stability of Russia’s economy,” Siluanov told the Rossiya 24 TV channel.


#berlin, #crimea, #german, #german-chancellor-angela-merkel, #germany, #rossiya-24-tv-channel, #russia, #russias, #south-korean-president-park-geun-hye, #ukraine