Subscribe to our news feedRussia and Ukraine agree new terms for oil transit
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Published on Wednesday 6th January 2010
Russia and Ukraine have reached a new deal on oil transit to Europe. The new terms avoided an energy crisis following Russian prime minister Vladimir Putin accusing Kiev of "abuse" on the deal prior to the agreement. A spokesman for Ukrainian state energy company Naftogaz, Valentyn Zemlyansky, confirmed in Kiev that an additional agreement had been concluded and that the new deal foresaw a rise in transit fees of 30 per cent in 2010 compared to last year. Last month the Ukrainian state oil pipeline monopoly, which is owned by Nafotgaz, said it was looking to change the terms of the 2004 contract with Russia for oil transit. Officials in both countries said that the new oil transit agreement would only cover 2010. Last year a disagreement over natural gas prices between Russia and Ukraine resulted in Russian gas supplied being cut off to Europe during the cold winter months. 
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