Russia, Ukraine sign agreement on oil transit

Russia and Ukraine have signed an intergovernmental agreement on
cooperation in transport and the transit of oil, RIA Novosti reports.

The document was signed as a result of the meeting of the bilateral
intergovernmental commission by the Deputy Energy Minister Anatoly
Yanovsky and Fuel and the Energy Minister Yuriy Boyko.

The agreement regulates the obligation to change the tariff on transit
of oil and guarantees on its transit through Ukraine.

The volume of oil transportation from Russia to Ukraine will increase
to 18.5 million tons a year comparing to 16.5 million tons previously,
Ukrainian President Viktor Yanukovych said at a news conference after
talks with Russian President, Dmitry Medvedev.

Since January 2010, the rate for oil transit at the territory of
Ukraine grew by 30% in price.