Oleksandr Turchynov, the speaker of the Ukrainian parliament and the acting president, said yesterday that Kiev will had filed a gas-related suit against Moscow to the Stockholm Institute of Arbitration. Russia will not reduce the volume of gas sold to Ukraine as long as the arbitration process continues. None of the sides can nullify the contract. According to data in late April, Ukraine owed Russia $3.5 billion for gas. Russia threatened to stop gas supplies to Ukraine, starting on June 3.
Ukraine insists that the current price of $480 per thousand cubic meters is unjust and should be reduced to $286, as it was before Victor Yanukovych fled the country.
Vyacheslav Kulagin, the director of the Center for Research of World Energy Markets at the RAS Institute for Energy Studies, said that Ukraine’s demands had no legal basis and that $480 per thousand cubic meters was the price set in the deal.
The expert doubts that Kiev can win the process. He reminds that the contract was signed by Yulia Tymoshenko, who is partly in control of the country today. This is the very contract she was put in jail for, adds Kulagin. Her release, according to the analyst, means that the contract was fair and signed in compliance with all norms.
Oleksandr Turchynov, the speaker of the Ukrainian parliament and the acting president, said yesterday that Kiev will had filed a gas-related suit against Moscow to the Stockholm Institute of Arbitration. Russia will not reduce the volume of gas sold to Ukraine as long as the arbitration process continues. None of the sides can nullify the contract. According to data in late April, Ukraine owed Russia $3.5 billion for gas. Russia threatened to stop gas supplies to Ukraine, starting on June 3.Ukraine insists that the current price of $480 per thousand cubic meters is unjust and should be reduced to $286, as it was before Victor Yanukovych fled the country.Vyacheslav Kulagin, the director of the Center for Research of World Energy Markets at the RAS Institute for Energy Studies, said that Ukraine’s demands had no legal basis and that $480 per thousand cubic meters was the price set in the deal.The expert doubts that Kiev can win the process. He reminds that the contract was signed by Yulia Tymoshenko, who is partly in control of the country today. This is the very contract she was put in jail for, adds Kulagin. Her release, according to the analyst, means that the contract was fair and signed in compliance with all norm
