Financial news

Putin Has Refused of Penalty Sanctions to "Naftogaz"

30 апреля 2009 г.

National concern "Gazprom" will not apply penal sanctions to the state company «Naftogaz Ukraine» for a shortage of gas. This was announced by the prime minister of Russia Mr. Vladimir Putin after a meeting with the prime minister of Ukraine Mrs. Julia Timoshenko.

As reported, according to Mr. Putin, the volume of penal sanctions to "Naftogaz" might be two billion dollars in view of April’s results. «These sanctions are not applied”, - the Russian prime-minister added.

Let's recall, in March Mr. Putin declared, that "Gazprom" would not fine Ukraine for a shortage of fuel. The head of the Russian government has emphasized, that "it is impressible to finish partners off ".

At the same time on April, 29th the representative of "Gazprom" Mr. Victor Valov declared, that the Russian concern is concerned about solvency of Ukraine for the gas they have already received. He added that fuel won’t be supplied in credit.

According to the contract on deliveries of the fuel, concluded by "Gazprom" and "Naftogaz" in the middle of January of the current year, the Ukrainian party should purchase in Russia about 40 billion cubic meters of gas in the year 2009. However in the first quarter Ukraine has bought at "Gazprom" twice less fuel, than it was provided by the contract as, because of crisis,  consumption of gas in the country was considerably reduced. In that case the Russian concern might put in «Naftogaz» 150 percent penal sanctions estimated of a shortfall quantity of gas, delivered in October-March, and 300 percent penalty – for the rest period.
 

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