` Naftogaz Ukrainy's Debt to ` Gazprom ' has Risen to an Estimated $2.2 Billion with Due Account in March '

#AceFinanceNews – MOSCOW – April 03 – Ukrainian domestic joint stock company Naftogaz Ukrainy’s debt to Russian gas giant Gazprom is estimated at more than $2.2 billion with due account of March gas supplies, Gazprom said in a statement upon results of a meeting between CEO of Russian and Ukrainian energy companies Alexei Miller and Andrei Kobolev in the Russian capital on Thursday.

Also the price of gas for Ukraine is set at $485 per 1,000 cubic meters as of April 2014, Gazprom CEO Alexei Miller said.

Russian Finance and Oil News

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#ans2014, #ceo-alexei-miller, #gazprom, #moscow, #naftogaz-ukrainy, #russian, #ukraine, #ukrainian

` Right Sector ` Dmitry Yarosh ' is ` Registered as Candidate ' having finally clarified Financial Aspects '

#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.

Russian News

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#central-election-commission, #dmitry-yarosh, #kiev, #right-sector, #ukraines, #ukrainian, #us

` World Bank advisers working in `Kiev ‘ are ` Preparing ‘ a ` Plan of Action ‘ to Support `Ukrainian Financial Sector’

#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

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#imf, #international-monetary-fund, #kiev, #national-bank-of-ukraine, #nbu, #ukraine, #ukrainian, #world-bank

` Russia’s UniConf has Filed Lawsuit against ` Ukrainian Sweet Manufacturer Claiming $70 million in Compensation ‘

#AceFinanceNews- UKRAINE – March 25 – Prosecutors have accused Ukrainian confectioner Roshen of producing counterfeit products, and it has suspended production at its Lipetsk factory in south-west Russia. Imports of Roshen chocolate were banned by Russia last summer.

Russia’s Uniconf has filed a lawsuit against the Ukrainian sweet manufacturer claiming $70 million in compensation.

On March 14, 2014 the Tverskoi Court in Moscow seized the accounts of Roshen enterprises in Russia, after the Russian law enforcement agencies carried out an inspection of the Lipetsk confectionery plant.

“If we continued working we’ll have to take commodity credits and have debts to pay to suppliers. No one will lend us money in the present situation,” as Interfax quotes CEO of Roshen, Viacheslav Moskalevsky.

In July 2013 Rospotrebnadzor, the Federal Service for Supervision of Consumer Rights Protection and Human Well-Being, banned the import of the Ukrainian confectionery.

As Russia is the main market for Roshen sales fell by 6 thousand tons a month. This forced the company to close its factory in Mariupol, Ukraine.

A month later in August 2013, Belarus decided to join Russia and ban the transit of confectionary, causing an approximate $200 million loss in revenue.

During the last 6 months Roshen has been only selling in Russia production from the Lipetsk factory, amounting to 10 thousand tons a month.

Now the confectioner plans to dispute the Tverskoi Court of Moscow decision.

“We plan to file a counter-claim against the ruling. Now all our efforts are aimed at overturning the court ruling or at least reducing the blocked sum so that the enterprise is able to function. A total of around 1.7 billion rubles has been seized,” Moskalevsky said.

Roshen is one of the largest producers of confectionery in Ukraine. The company makes up to 200 different types of confectionery: chocolate and jelly candies, caramel, cookies, wafers, swiss rolls and pies.

Total production is about 450,000 tons a year.

Ukrainian News

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#belarus, #interfax, #lipetsk, #moscow, #roshen, #russia, #tverskoi-court, #ukraine, #ukrainian

` European Parliament Member believes it is wrong for `European Union ‘ to Grant of Financial Aid ‘ to the ` Ukraine ‘

#AceFinanceNews – MOSCOW – March 25 – Pino Arlacchi, member of the European Parliament, believes it is wrong of the European Union to grant financial aid to Ukraine and suggests confiscating funds of Ukrainian oligarchs invested in European banks.

The funds Ukrainian oligarchs invested in European banks, exceeding 50 billion euro, should be confiscated and channelled for relief to Ukraine, he said in an interview with Itar-Tass.

He believes the new composition of the parliament of the European Union will endorse such a resolution regarding Ukraine.

He noted that such measures had been approved for North Africa, when the funds of dictators of Egypt, Tunisia and Libya were confiscated. So, there exist juridically substantiated mechanisms for that, Arlacchi said.

He noted, however, that there was a need for a request for this from the Ukrainian government, which is so far under oligarchs’ control.

Arlacchi recalled that the European Union had prepared an economic package for relief to Ukraine in the amount of 11 billion euro.

Criticizing this stand he noted that two billion euro out of the sum was a grant that was actually a gift to the corrupt government that could not guarantee the return of the funds.

Arlacchi noted it was irresponsible to give such a loan to the Ukrainian government.

#AFN2014

#egypt, #european, #european-parliament, #european-union, #libya, #moscow, #north-africa, #tunisia, #ukraine, #ukrainian

` Ukraine receives demand from ` Russia ' pay back the $11 Billion in Discounted Gas and receive Cut in Price '

#AceFinanceNews – MOSCOW – 21 March – Prime Minister Dmitry Medvedev on Friday demanded Ukraine pay back $11 billion that he said Kiev had saved through discounted gas prices in return for hosting a Russian naval base in Crimea.

Ukraine owes the money because Crimea is now part of Russia and the two countries’ 2010 lease agreement was now “subject to annulment,” Medvedev said at a meeting of the Security Council.

“The Ukrainian state saved some $11 billion dollars and accordingly the Russian budget has a missed profit of the same $11 billion,” he warned.

Soon after coming to power in 2010, then president of Ukraine, Viktor Yanukovych, agreed to extend the lease on Russia’s Black Sea Fleet in Crimea that was due to expire in 2017 for 25 years, until 2042.

In return, Moscow agreed to cut natural gas prices for Ukraine by $100 for every 1,000 cubic metres.

Russian Finance and Media Sources

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#crimea, #moscow, #russia, #russian, #russian-black-sea-fleet, #ukraine, #ukrainian, #viktor-yanukovych

` Ukraine’s Foreign Debt in 2013 Grew to 5.5 Percent to $145.52 Billion ‘

#AceFinanceNews – KIEV – March 22 – Ukraine’s foreign debt in 2013 grew 5.5 percent to $142.52 billion, the National Bank reported.

The government debt grew 9.7 percent to $29.922 billion over the past year, the debts of the country’s banks grew 6.4 percent to over $22.5 billion, the debts of other sectors rose 2.12 percent to $79.4 billion.
In February, the Ukrainian government voiced plans to borrow over $18.9 billion on the domestic and foreign markets in 2014.

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#kiev, #national-bank-of-ukraine, #ukraine, #ukrainian

` Yatsenyuk Believes that the Price of Gas from Europe will be $ 150 Below the Russian One ‘

#AceFinanceNews – KIEV, March 21.- Ukrainian government will continue talks the EU on purchases of natural gas in European countries, interim acting prime minister Arseny Yatsenyuk told reporters Friday at Kiev’s Boryspol airport upon return from Brussels where he signed the political chapter of an EU-Ukraine association agreement.

“We continue talks on getting gas from EU member-states,” said Yatsenyuk who believes for some reason that the price of gas from Europe will be $ 150 below the Russian one.

Russian Commerce Sources

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#brussels, #eu, #eu-ukraine, #europe, #kiev, #russian, #ukrainian

` Ukraine’s withdrawal from the `Commonwealth of Independent States ‘ will lead to sharp decline in Investments ‘

#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

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#belarus, #commonwealth-of-independent-states-cis, #kazakhstan, #kiev, #russia, #ukraines, #ukrainian

` Russian Policemen have transferred money to the aid of `Berkut and Ukrainian ‘ Policemen affected by Disorders’

#AceFinanceNews – Moscow – March 20. – About 100,000 Russian policemen have transferred money to an account in aid for Berkut members and other Ukrainian policemen affected by disorders in the country, an official at the Russian Interior Ministry’s press centre told reporters on Thursday.

The money are transferred to the account of the service of social and legal protection of Interior Ministry personnel to provide aid for the colleagues from the Berkut unit and other Ukrainian police units, the official said.

In the Voronezh Region alone, more than 10,000 policemen decided to help Berkut members, and more than 12,000 joined the initiative in the Rostov Region.

Russian Media Sources

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#aceworldnews, #berkut, #moscow, #rostov-region, #russian, #russian-interior-ministry, #ukrainian