Russia has given a green signal in restoring the gas supply to Ukraine throughout the winter in a meeting headed by European Union.
The deal is also based to make sure gas supplies over all the European Union countries and will no more be unsecured when transported via Ukraine. In this way, all the inhabitants in each and every place of Europe will not be deprived even a single minute from gas-load shedding this winter, stated by Jose Manuel Barroso, chairman of European commission.
The chief executive of European energy, Guenther Oettinger believes that Ukraine will certainly manage to meet the expenses for the gas supply accordingly. He further said that this agreement would be proven as first move to alleviate the tensions between Russia and Ukraine. The whole deal took more than couple of months in building mutual consensus among European Union commission and energy ministries of Russia and Ukraine.
The basic pointers on which the deal is based on is that UN will be acted as underwriter on behalf of Ukraine for gas purchases from Russia and also helps in meeting all the obligations.
The deal has a total worth of $4.6 billion or ((£2.87bn), while the money is financed with the mutual aid of European Union UN and International Monetary Fund (IMF). Ukraine will be liable to reimburse $378 per 1000 cubic meters at the end of 2014, and $365 for the same volume in first quarter of 2015.
The Aid provided by European commission will be reimbursed on time, while the IMF gives assurance to Ukraine that they can obtain all monetary resources to disburse all the gas disbursement, stated by European Commission.
Moreover, the dialogues with IMF for acquiring the financial support to Ukraine, also concerning to gas purchase, is still continue and might be a healthy measure for releasing tensions between these two countries. However, all the three sides have supported Ukraine for exploiting all the financial resources.