October 07, 2008

Ukraine clears Russian gas debt

RIA Novosti cited Ms Yulia Tymoshenko PM of Ukraine as saying that the country has paid Russia the last installment of its natural gas debt.

The report added that Mr Viktor Zubkov PM of Russia told Ms Tymoshenko at a meeting that full payment of the debt will pave the way for the two countries to reach an agreement for long-term gas cooperation eight to ten years ahead.

Ms Tymoshenko said "Resolving all issues in the gas sector is a serious achievement. Ukraine has paid off all its commitments."

Mr Zubkov said Russia and Ukraine should cooperate in the hi-tech sphere to be competitive on world markets. He said "Through joint efforts we will be able to ensure a worthy place for Ukraine and Russia in world labor division."

Ms Tymoshenko praised bilateral relations and said the Russian and Ukrainian governments had drafted a joint action plan. She said bilateral trade grew 28% for the first three months of 2008.