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Page added on December 29, 2009

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Russia, Ukraine agree oil deal to avert supply cut

Ukraine says Russia agrees to a 30 percent tariff rise

KIEV/MOSCOW, Dec 29 (Reuters) – Ukraine and Russia have signed a deal on oil transit for 2010, allaying fears of supply cuts to Europe, in a deal Ukrainian state energy firm Naftogaz says will require Moscow to pay 30 percent more in transit fees.

Russia said on Monday it had agreed terms for a new oil deal with Ukraine a few hours after spooking Europe with a warning the continent could face oil supply cuts because of a dispute between Moscow and Kiev. [

Europe, which receives much of its oil and gas from Russia, has closely tracked disputes between Russia and its neighbours after EU gas supplies were cut in the dead of winter in 2006 and 2009 due to rows between Russia and Ukraine.

Reuters



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