Putin gives Ukraine $15 billion and a gas discount

Ukrainian President Viktor Yanukovich conducted the negotiations with Russian President Putin and managed to obtain the gas price lower than average European and $15 billion from the National Welfare Fund of the RF. Ukrainian entering the Customs Union was not discussed, Putin said.

Ukrainian party claimed it was going to reduce the gas price to average European, though the final discount exceeded the expectations. Vladimir Putin reported that the signed agreement let Gazprom sell its gas to Ukraine for $268.5 per thousand cubic metres. This is almost 35% less than current price which reached $410 in Q4 and almost 30% less than the average European price (currently Europe buys Russian gas for $390 on average, including $100 for transit via the territory of Ukraine).