` 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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` Austrian Court has ruled to release Ukrainian Oilgarch `Dmitry Firtash ‘ on a 125 Million Euro’s Bail ‘

#AceFinanceNews An Austrian court has ruled to release Ukrainian oligarch Dmitry Firtash on a 125 million euros bail, but ordered him to stay in the country pending US extradition.

Earlier it was reported that Austrian authorities detained the Firtash, on charges of bribery at the request of Washington.

The detained Ukrainian national is believed to have business ties with the ousted Ukrainian president, Viktor Yanukovich.

Police claim that the arrest of the entrepreneur is not linked to the Ukraine crisis.

The Austrian authorities noted that the FBI has been investigating Firtash since 2006, and that an arrest warrant had been issued for him by a federal judge in Virginia, the.

The Group D, owned by the Firtash confirmed his arrest in Vienna, saying that the incident was a “misunderstanding” and will cleared in the “near future.”

Related links: March 13 http://wp.me/pzTwj-2Ea


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` IMF : Pressures mounts to give `Green Light’ to an `Aid Program ‘ for Kiev ‘

#AceFinanceNews says that the `International Monetary Fund‘ is under increasing pressure from all sides to give the green light to an aid program for Kiev, even as it risks its own credibility in doing so.

President Putin visits Ukraine and Prime Minis...

President Putin visits Ukraine and Prime Minister of Ukraine Viktor Yanukovych. (Photo credit: Wikipedia)

A team of IMF experts landed in Ukraine on Monday to launch discussions with the authorities, dissecting the economy’s problems and shaping an aid plan, even as the new government struggles with the threat of Russia in Crimea and says it needs “at least” $15 billion.

An IMF loan does not appear to be imminent but the expectation is heavy. On Sunday, finance ministers from the seven leading industrial powers — the G8 minus Russia — emphasized that the IMF is “best prepared” to lead a support program for the country.

The United States, the country with the biggest voice in the IMF, has repeatedly said the Fund should be at the heart of any rescue program.

Europe, also holding a strong voting position in the Fund, has the same view.

“No member state will move without the IMF evaluating Ukraine’s financial needs,” a European source said Monday.

The IMF said last week it was ready to respond to an official Ukraine request for help, just days after a new government took power in Kiev following the ouster of pro-Russian president Viktor Yanukovych.

But the IMF also has its strict operating rules and it must be careful not to offend some member states which have reproached it for having at times given in to Western pressures.

Under its internal rules, the IMF can only lend to a borrower in exchange for implementing austerity policies and a “viable” plan that would take the country’s public finances to the point that it will be able to repay.



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#US : Sabre Rattling and offer of `One Billion Dollar’s in Loan Guarantees’ and warning to `Russia’ against Military Intervention’

#AceFinanceNews say according to latest news from `MOSCOW, February 27 (RIA Novosti) – The United States has said it plans to provide Ukraine with $1 billion in loan guarantees and has warned Russia against military action in the former Soviet state as tensions simmer in the southern Ukrainian region of Crimea.

Political map of Ukraine, highlighting Crimean...

Political map of Ukraine, highlighting Crimean Oblast (Photo credit: Wikipedia)

The promise of support from Washington comes as newly installed leaders in Ukraine face the prospect of keeping a teetering economy on track and ensuring security amid challenges to their authority from opponents in the south and east of country.

Secretary of State John Kerry said that US support would come on top of an expected $1.5 billion worth of credits from the European Union and further loans from international financial organizations.

EU foreign affairs chief Catherine Ashton gave no details of the financial assistance, but said Brussels would work with the International Monetary Fund.

Meanwhile, Kommersant daily newspaper reported Thursday that the Economy Ministry in Moscow has reached out to Russian businessmen to invest more than $5 billion in the Ukrainian autonomous republic of Crimea, which is mainly occupied by ethnic Russians.

Russian businesses plan to invest some $1.4 billion on road reconstruction and $1.8 billion on projects related to sea ports, a Russian trade representative in Ukraine told the newspaper.

Nerves have been tested in the Black Sea peninsula since the ouster over the weekend of Ukrainian President Viktor Yanukovych, who had latterly chosen to direct the country toward greater economic cooperation with Russia.

Wariness among the ethnic Russian population has been fuelled by perceptions of increasingly belligerent nationalist rhetoric among politicians in the opposition movement that spearheaded Yanukovych’s ouster.

Complicating matters, representatives of the ethnic Tatar community, who represent more than one-tenth of the population in Crimea, have come out in support of the incoming regime, setting the stage for tensions inside the peninsula.

Fighting broke out Wednesday in the Crimean city of Simferopol as large crowds of opponents of the newly installed national authorities faced off against representatives of the Tatar community outside the local parliament. Many among the ethnic Russian gathering waved flags of Russia and chanted the name of the country in an apparent appeal for assistance on their behalf.

© REUTERS/ Baz Ratner

Recent clashes between ethnic Russians (left) and Crimean Tatars near the Simferopol parliament building

At least two people died and another 30 people sought medical help after the clashes, the local health ministry said Thursday.

On Wednesday, Russia announced that it was holding snap combat readiness drills involving 150,000 combat troops in two military districts, including one abutting the Crimea, a development that has been widely interpreted as a reaction to a potential escalation of instability in Ukraine. Russian defense officials have denied the maneuver is connected to Ukraine.

Kerry said any kind of military intervention violating Ukraine territorial integrity would be a grave mistake.

“What we need now to do is not get into an old, Cold War confrontation,” The Associated Press quoted Kerry as saying. “We need to work together in what does not have to be a zero-sum game to provide the capacity of the people of Ukraine to choose their future.”

In an apparent acknowledgement of Moscow’s concerns for the Russian population in Ukraine, however, White House press secretary Jay Carney urged authorities in Kiev to protect the nation’s minorities.

“We call on Ukraine’s leaders to do their utmost to protect the security and human rights of all their citizens, including the rights of minorities, to recommit to honour the state’s international obligations, and to avoid divisive policies,” Carney said.



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`Ukranian Parliament Authorised Disbursement of $218 Million’

#AceFinanceNews says the `Ukrainian Parliament on Monday, February 24, authorized the disbursement of 1.96 billion hryvnia ($218 million) for early presidential elections to be held on May 25.


The decision was passed by 352 votes with the required 226 votes.


English: Verkhovna Rada - Parlament of Ukraine...

English: Verkhovna Rada – Parlament of Ukraine Українська: Будинок Верховної Ради України Русский: Здание Верховного Совета Украины (Photo credit: Wikipedia)


Yevgeny Geller, chair of the budget committee, said the funding would be secured by redistributing other expenditures.


The presidential election campaign will start in Ukraine on February 25, the Central Election Commission said.


“The election campaign starts automatically based on the resolution of the Verkhovna Rada [parliament] on the appointment of early elections of the president of Ukraine on May 25. At a meeting on Monday, the Central Election Commission will not make a statement on the start of the election campaign,” the Commission said.


According to preliminary estimates, the early presidential elections will cost 1.9 billion hryvnia (over $200 million).


On February 22, the parliament adopted a resolution stating that President Viktor Yanukovych had given up his constitutional duties and appointing early presidential elections for May 25, 2014.




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