Moscow & Kiev reach ‘agreement in principle’ on new gas transit deal

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Russian and Ukrainian delegations have reached a preliminary gas transit agreement after intense negotiations in Berlin as the current contract is set to expire at the end of the year.

“After these very intensive talks I am very glad to say that we reached an agreement in principle on all key elements, which I believe is very good and very positive news for Europe, for Russia, for Ukraine, for gas markets and for citizens in all countries,” European Commission Vice President Maros Sefcovic, who participated in the trilateral meeting, said during a news conference on Thursday.

However, the exact terms of the deal have not been announced yet, as the sides are to discuss the details on Friday in Moscow and Kiev before signing. Speaking to reporters, Russian Energy Minister Alexander Novak noted that a draft of the protocol is ready and is now only waiting for approval.

“I hope we can soon come to permanent arrangements,” Novak stated.

On Friday, reports claimed that Gazprom would have to pay the Ukrainian side $3 billion, fulfilling the Stockholm court’s ruling.

Russian President Vladimir Putin confirmed on Friday that Russia wants to reach a mutually beneficial gas deal with Ukraine.

“That’s our goal, but [the conditions of the agreement] should be mutually acceptable, without creating risks for either side,” said Putin.

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