#AceFinanceNews – MOSCOW – May 05 – Ukraine’s Raiffeisen Bank Aval, a subsidiary of Raiffeisen Bank International, has temporarily closed branches in Ukraine’s eastern Donetsk and Luhansk regions, the bank said on Monday( Itar-tass) reported.
“Three branches of Ukraine’s Raiffeisen Bank Aval in the Luhansk region and 22 branches in the Donetsk region have been closed down temporarily on May 5,” Leonid Zyabrev, a spokesman for the bank said, adding that customers could access their money from cash machines and could still use their credit cards.
Earlier, Ukraine’s biggest bank, Privatbank, also halted operations in the Donetsk and Luhansk regions, saying the situation in eastern Ukraine posed a threat to staff safety.
The bank said its clients could access their accounts via the Internet and mobile devices, use their cards in shops and make cashless transactions at self-service terminals.
#AceFinanceNews – MOSCOW – April 14 – Eight billion cubic meters of gas in Ukraine’s underground storage facilities is enough for three months’ uninterrupted transit of Russian natural gas to Europe, parliament-appointed Minister for Energy and Coal Yuriy Prodan told Bulgarian national radio on Monday.
“Within a certain period of time, up to three months, Ukraine will be able to ensure gas transit to European countries. Within this period of time we must consider the issue of gas pumping and settle it before June,” the minister said.
However, according to Russian President Vladimir Putin, Ukraine needs about 11 billion cubic meters in underground storage to guarantee uninterrupted transit of Russian gas to Europe, he told European leaders in a letter last Friday. Under the current price for Russian gas of $485.5 per 1,000 cubic meters, up to $5 billion will be needed.
Currently, 7.2 billion cubic meters is in underground storage, head of Ukraine’s national oil and gas company Naftogaz Andriy Kobolev has reported. According to Russian supplier Gazprom, 6.5 billion cubic meters lay underground on April 9.
#AceBreakingNews – VIENNA – April 11 – EUROPEAN UNION – EU Commissioner for Energy Gunter Oettinger is drafting proposals for how to pay off Ukraine’s debt to the Russian supplier of natural gas, OAO Gazprom, Oettinger said Friday speaking to O1 Austrian Public Radio as he visited Vienna.
He said along with it he personally thought that only a part of the bills Gazprom had issued to Ukraine contained grounded total sums to be paid.
#AceFinanceNews – WASHINGTON – April 11 – Ukraine’s parliament-appointed Finance Minister Oleksandr Shlapak, claims that Ukraine has complied with all terms necessary for getting the first tranche of financial assistance from the IMF.
“We are here for a more specific discussion of the time and conditions of [international] support,” Shlapak told the media in Washington where the spring meeting of the IMF and World Bank is under-way.
“Moreover, Ukraine has met all of the IMF conditions for getting the first tranche.”
The IMF earlier said it would be prepared to extend to Kiev $14-18 billion within the framework of overall international assistance of $27 billion within two years.
IMF Managing Director Christine Lagarde said on Thursday the Fund’s program for Ukraine might be presented to the IMF Board of Governors late April or in early May.
#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 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 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
#AceFinanceNews – KIEV, March 21.- Ukraine’s Ministry of Interior Affairs has on Friday detained the Chairman of the Board of national oil and gas company Naftogaz Yevhen Bakulin within the framework of investigation of major corruption schemes in the gas industry.
Parliament-appointed Minister of Interior Affairs Arsen Avakov said this in a statement.
He added that only within 3 episodes of actions committed by the criminal group and investigated by the ministry’s Investigative Department, the sum of losses inflicted to the state makes about $4 billion.
“Meanwhile, this is not the complete list of suspicious schemes and transactions that attracted the attention of our investigators. I am afraid the uncompromised investigation carried out today would lead only to immense sums of losses inflicted to many famous personalia that have to do with it.
In particular, to those from the past and present political elite,” Avakov noted.
He warned politicians from interfering with the investigation. “I warn that I will be sharply, and even in public, react on every attempt of putting pressure on the investigation,” Avakov stressed.
Investigative actions were being carried out in the headquarters of Ukraine’s national oil and gas company Naftogaz, Kiev police reported on Friday.
Eyewitnesses said “in the office on Bohdan Khmelnytsky Street and near the building, there are armed people in masks”. One of the company’s employees said that the “office work has been paralyzed, searches and confiscation of documents are under-way”.
Russian Finance and Media Sources
#AceFinanceNews – KIEV – March 21. Ukraine’s withdrawal from the Commonwealth of Independent States (CIS) will lead to a sharp decline in investments in the Ukrainian economy from CIS countries, primarily Russia, which is one of the largest investors, said leader of the Ukrainian Choice movement Viktor Medvedchuk.
“The CIS is an effective economic union,” Medvedchuk said commenting on the statements of Ukraine’s Acting Foreign Minister Andrii Deshchytsia and Acting Secretary of the Security Council Andriy Parubiy that Ukraine started procedures to leave the CIS.
“Ukraine’s withdrawal from the organization will also mean leaving the CIS free trade zone,” he said. “The country will forfeit duty free export regime, which will break cooperation ties with enterprises in Russia, Belarus and Kazakhstan. Economic damages will amount to billions of dollars.”
Russian Finance News