‘ EU Countries Planning to Tell Russia They Will Not Rewrite Ukraine Trade-Pact ‘

#AceFinanceNews BRUSSELS September 27 EU countries are planning to tell Russia it has no say on changing the Ukraine trade treaty despite its demand to rewrite the text.

The joint declaration, by the EU Council and European Commission, is to say the trade pact: “is a bilateral [EU-Ukraine] agreement and any adaptations to it can only be made at the request of one of the parties and with the agreement of the other”.

It notes Ukraine should “continue the process of envisaged reforms and economic modernisation” related to Titles III, V, VI and VII, of the pact.

It also says Ukraine should go ahead with “adequate preparation for the implementation of Title IV”.

Titles III, V, VI, and VII of the pact spell out reforms in the areas of justice and security, economic affairs, financial and anti-fraud matters, and institution-building.

Title IV deals with trade and the mutual lifting of tariffs on EU and Ukrainian exports.

The EU declaration is to be published in Brussels on Monday (29 September) by ministers at general affairs council.

Ministers will the same day adopt a legal act saying the bulk of the treaty is to be implemented “without delay”, but that article IV is to be implemented on 1 January 2016.

EU countries are also planning to extend “autonomous trade measures” – low or zero-rate tariffs for exports of most Ukrainian goods to Europe – from November until January 2016. But the legal text is not yet ready for adoption.

The delay of Title IV is in line with an EU-Russia-Ukraine deal on 12 September.

It comes after Russia threatened to impose trade sanctions on Ukraine on grounds it will be flooded by cheap EU goods re-exported from Ukraine.

The declaration on the “bilateral” mechanism for altering the treaty comes after Russia also demanded a role in altering the content of the text in the run-up to 2016.

Source:

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#brussels, #eu-russia-ukraine, #europe, #russia, #trade-pact, #ukraine, #ukrainian

` Russian Defence Ministry Planning to Deploy Additional Forces in Crimea under $2.5 Billion Programme ‘

#AceFinanceNews – MOSCOW – May 06 – The Russian Defence Ministry is planning to deploy additional forces in Crimea as part of beefing up the Black Sea fleet under a $2.5 billion program. The need for new deployment emerged after the formerly Ukrainian peninsula joined Russia.

“Before year’s end we will form new units of air defence and marine troops at the sites of our fleet’s deployment,” Defence Minister Sergey Shoigu said Tuesday. “The fleet will receive new submarines and surface ships of new generation this year. This requires our attention.”

The minister stressed that the Navy beef-up program for the Black Sea fleet was extended due to Crimea, the fleet’s base, becoming part of Russia in March. The ministry plans to spend more than $2.4 billion for the purpose by 2020.

The announcement of deployment plans comes after Russia voiced concerns of the build-up of NATO forces in Eastern Europe and the Black Sea. The alliance deployed aircraft and warships as well as ground troops, saying it was needed to instil confidence in its members like Poland, Romania and the Baltic states.

RT

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#baltic-states, #black-sea, #crimea, #defence-minister-sergey-shoigu, #eastern-europe, #europe, #moscow, #nato, #poland, #romania, #russia, #ukrainian

IMF Approves Two-year-Stand-By-Arrangement Worth $17.01 Billion with First Tranch’e of $3 Billion in May ‘

#AceFinanceNews – UKRAINE – May 01 – The Executive Board of the International Monetary Fund (IMF) has approved a two-year Stand-By Arrangement (SBA) worth $17.01 billion for Ukraine, the IMF’s press service said on May 1.

As was earlier reported, Kyiv hopes to get the first $3 billion tranche of the new SBA between May 5 and May 8, 2014, Ukrainian Finance Minister Oleksandr Shlapak said on April 30. (Interfax-Ukraine)

“We’re waiting about $3 billion [in the first tranche]: $1 billion will go to the National Bank of Ukraine, $2 billion will cover the budget deficit.

We expect this from May 5 to May 8,” he said.

IMF PRESS RELEASE

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#imf, #international-monetary-fund-imf, #kyiv, #national-bank-of-ukraine, #ukraine, #ukrainian

` Bahrain Signs Investment Cooperation Deal with Russia with Washington showing their Concern ‘

#AceFinanceNews – LONDON – May 01 – /ITAR-TASS/. U.S. Administration has rebuked Bahrain, a Gulf state with which it has a close strategic relationship, for signing an investment cooperation deal with Russia, which Washington and its European allies are trying to subject to punitive economic measures at the moment.

“With Russia continuing its efforts to destabilize Ukraine, this is not the time for any country to conduct business as usual (with Moscow),” an official at the U.S. Department of State told Reuters Wednesday.
He said Washington had raised concern over the signing with the Bahraini government.

Russian Direct Investment Fund issued a statement Tuesday saying it had signed a memorandum of understanding with the Mumtalakat sovereign wealth fund of Bahrain on expanding both countries’ investment opportunities.

The statement said, among other things, that the Bahraini fund’s CEO, Mahmood al-Kooheji would join the RDIF international advisory board and would help formulate its strategic guidelines.

The deal was signed at the end of Wednesday’s visit to Moscow by Bahrain’s Crown Prince Salman Bin Hamad al-Khalifa who was received by President Vladimir Putin.

International analysts point out the symbolism of the deal. According to Reuters, it suggests that Western sanctions “may not deter other countries from continuing to expand business ties with Russia.

#AFN2014

#ans2014, #bahrain, #bahraini, #london, #moscow, #russia, #russian-president-vladimir-putin, #ukrainian

` Russia’s Aid for `Ukraine ‘ during Post-Soviet Period was Approximately Quarter of Trillion Dollar’s – Quoted ‘

#AceFinanceNews – MOSCOW – April 22 – Russia’s aid for Ukraine during the entire post-Soviet period was worth approximately a quarter of a trillion dollars, the Voice of Russia radio quoted Prime Minister Dmitry Medvedev as saying.

Commenting on the statements of Russian MPs in the State Duma on Tuesday, he said that about $250 billion was a fair figure.

“This is the size of the support that we may have provided to our Ukrainian friends and brothers during the entire post-Soviet period at the expense of all sorts of preferences, including the non-market conditions for gas trade,” Medvedev said.

Tass – RT – VoR

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#gas, #moscow, #russias, #russian, #soviet, #state-duma, #ukrainian

` USA Agrees to Provide Aid to Ukraine Worth $50 Million for Political and Economic Reforms ‘

#AceFinanceNews – KIEV – April 22 – The USA will provide aid to Ukraine worth $50 million for carrying out political and economic reforms. This assistance is aimed at strengthening partnership between the US and Ukraine, says the White House’s statement published on Tuesday.

Of the mentioned sum, $11.4 million are designated for holding presidential elections in Ukraine that are scheduled for May 25. These funds are intended to support democratic processes, and not to aid any specific candidate, the White House stated.

In addition, the USA will provide $8 million to aid Ukraine’s armed forces, but this assistance does not envisage arms shipments. These funds are meant to be used for buying communication systems, engineering equipment and transport facilities.

The White House published this statement along with the visit of US Vice President Joseph Biden to Ukraine. Biden is holding negotiations with the Ukrainian leadership in Kiev.

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#joseph-biden, #kiev, #ukraine, #ukrainian, #usa, #white-house

` Stepan Kubiv States Reports a Russian Bank was Financing Supporters for Federal System in Ukraine is Unconfirmed ‘

#AceFinanceNews – KIEV – April 16 – Chairman of the National Bank of Ukraine Stepan Kubiv has declared that earlier reports alleging that one of the Russian banks was financing supporters of the establishment of a federal system in Ukraine have not been confirmed, the bank chairman declared before a session of the Ukrainian Rada opened on Wednesday.

‘”The reports have not been confirmed,” local media agencies quoted him as saying.

On Tuesday, Ukraine’s Security Service (SBU) opened a criminal case against an employee of one of the Russian banks. SBU press service claimed that the Russian bank had been financing supporters of the establishment of a federal system in the east of Ukraine.

However, the exact name of the Russian bank, which aroused suspicion in Ukraine, was not disclosed.

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#national-bank-of-ukraine, #russian, #sbu, #ukraine, #ukrainian, #verkhovna-rada

#AceFinanceNews SIMFEROPOL April 14 QHA Crimea to shorten…

#AceFinanceNews – SIMFEROPOL – April 14 – (QHA) – Crimea to shorten the period of time during which the Russian Ruble and Ukrainian Hryvnia will simultaneously circulate in the region due to the declining value of the Hryvnia, Crimean vice premier Rustam Temirgaliyev announced.

“Amid declining value of the Hryvnia and the possibility of default in Ukraine we have to reconsider the terms of operating two-currency system in the region. We discuss the possibility of a withdrawal of Hryvnia in a short period of time”- he said.

“We discuss the possibility of a significant withdrawal of Hryvnia in case of unrestricted exchange of the Ruble and Hryvnia along with deposit compensation from Ukrainian banks in Crimea Deposit Insurance Agency (DIA).

DIA already opening its offices in Crimea”- Temirgaliev added.

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#crimea, #crimea-deposit-insurance-agency-dia, #hryvnia, #ruble, #russian, #simferopol, #ukraine, #ukrainian

` 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

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

` Ukrainian Firtash has been `Indicted ' with ` $185 Million Bribery Charge ' over `Access ' to ` Titanium Mines ' in India '

#AceFinanceNews – WASHINGTON – April 03 – Dmitry Firtash, one of the most influential Ukrainian oligarchs, was charged with bribing Indian officials to gain access to titanium mines in India, the U.S. Justice Department said in a press release on Wednesday http://www.justice.gov/opa/pr/2014/April/14-crm-333.html

Six people Firtash, a Hungarian entrepreneur, another Ukrainian citizen, an Indian politician and two businessmen from India and Sri Lanka are under investigation. U.S. prosecutors said that about 18.5 million dlrs had been handed over to Indian officials since 2006 to secure rights to mine titanium in the Indian state of Andhra Pradesh.

http://www.trbimg.com/img-533c2ce7/turbine/chi-pdf-dmytro-firtash-indictment-20140402

The mining project was expected to generate 500 mln dlrs annually from the sale of titanium, including to a company based in Chicago.

Prosecutors said Firtash had negotiated with Indian officials and ordered to pay them in exchange for preferences to secure mining licenses, and documents were falsified, on his instructions, for the money transfer.

The investigation was conducted by the FBI in Chicago.

On March 21, Firtash was released in Vienna on a 125-Million euro bail from custody. He was held there after he was detained at the request of U.S. law enforcement authorities #ANS2014 http://wp.me/pzTwj-2FR

As was noted in the United States, Firtash was a major player in the sale of Russian gas to Ukraine.

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#chicago, #dmitry-firtash, #fbi, #ukrainian, #united-states, #us-justice-department, #vienna, #washington