Putin: EU should help Ukraine overcome cash deficiency to pay for Russian gas supplies

Photo: Reuters

Russia expects that the European Union will help Ukraine overcome a cash deficiency to be able to pay for supplies of Russian natural gas, Russian President Vladimir Putin said.

"We expect that our European partners, the European Commission, also can and should offer their shoulder to Ukraine and help resolve this problem with cash deficiencies," Putin said at a press conference in Milan on Friday.

"There are certain tools, such as bridge loans, or the transfer of another IMF loan, or guarantees of a first-class European bank," Putin said.

He recalled that Russia had issued a $3 billion loan to Ukraine at the end of 2013.

"According to our estimates, $3.5 billion is the debt for gas that has already been supplied and has not been paid for. Gazprom has switched to prepayment terms, and it cannot amend the conditions of supplies in line with the contract," he said.

"We understand our Ukrainian partners' financial condition and that they do have problems and have a cash deficiency. We have once again made some steps forward concerning the conditions and volumes of payments for gas that was supplied earlier, that is, concerning debts," Putin said.