Russia announces new gas price for Ukraine

Russian Minister for Energy Alexander Novak said today that the new gas price for Ukraine in Q2 2015 may total $348 per thousand cubic meters, dropping by $30 compared with the price in January-March 2015, RIA Novosti reports.

The minister added that Ukraine owed Russia up to $2.47 billion for gas, taking into account penalties and overdue interest.

Officials of the European Commission, Ukraine and Russia are expected to meet in Brussels today to discuss supplies of Russian gas to Ukraine.

Naftogaz decided in late February to pay for Russian gas in tranches of $15 million. The first payment was made on February 27. Four tranches have been made.