Export Duty On Russian Gas For Ukraine Reset To Zero

MOSCOW, Russia -- Export duty on Russian natural gas for Ukraine has been reset to zero from April 1, a decree signed by Russian Prime Minister Vladimir Putin said.

Vladimir Putin

The document, signed on April 30, states that the zero duty will apply to supplies of Russian gas in volumes up to 30 billion cubic meters in 2010 and 40 billion cubic meters in the period from 2011 to 2019.

A reduction of 30% of the contract price cannot be more than $100 per 1000 cubic meters.

"This decree applies to legal relations arising from 1 April 2010," the decree says.

The 30% reduction on Russian natural gas for Ukraine was agreed at a meeting of the presidents of the two countries in Kharkov on April 21.

In return for the gas discount, Ukraine has agreed to extend a lease on a Russian naval base in the Ukrainian port of Sevastopol for 25 years after the current lease expires in 2017.

The agreement was ratified by the parliaments of the two countries simultaneously on April 28.

Source: RIA Novosti