28 Sep '14, 10am

#Ukraine to pay $3.1bn of Gazprom debt by end of 2014 as winter gas supply deal is struck

rockman on Sat, 27th Sep 2014 9:25 am The European Union will guarantee a loan from the International Monetary Fund to help Ukraine meet its debt payments. One obvious solution from the start. But the fact that the IMF wasn’t going to provide the Ukraine with a rather small credit line (total current capital commitment of the IMF to the rest of the world is around $125 billion) unless someone co-signed the loan is rather telling IMHO. I have to wonder if this was essentially extortion: the EU covers the debt in exchange for the Ukraine continuing to ship the Russian NG to the EU countries. I also have to wonder if there was a side deal regarding what the Ukraine charged for transiting. In the past Russia paid the fee. Wonder who will be paying in the future and at what price? And the prepayment requirement is interesting. There were major disputes in the past where the Ukr...

Full article: http://peakoil.com/publicpolicy/ukraine-to-pay-3-1bn-of-g...

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