Ukraine Could Stop Buying Russian Gas From April 1

Ukraine will decide whether it will buy Russian gas from April 1 considering the conditions, the price and the need for fuel, said Ukraine’s Minister of Energy Vladimir Demchsyshyn at the end of the Cabine of Ministers.

‘Ukraine has the opportunity to stop the purchase if conditions are unfavourable, and continue if the price meets market conditions’ reads a note released by the Ministry on Monday evening. 

The Minister also said that the country will try to attract foreign investors.  

“The challenge now is to attract investors who would bring not only money and new technologies, but also a new philosophy of life” the Minister said. 

Over the last days, experts pointed their finger at Kiev’s decision to increase taxes. The country unveiled a royalty, which taxes output sales, not just profits. It also presented the new rates: 70% for state-owned production companies; 55% on wells under 5,000 meters depth, and 35% on wells over 5,000 meters.