EU hopes for fast solution to gas problem

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The European Union is hoping for a rapid decision to provide Ukraine with necessary funds to pay for the supply of the Russian gas, but it is at the same time in permanent contacts with both parties and does not rule out the worst scenario, European Commission President Jose Manuel Barroso has today told a news conference in Brussels ahead of the G8 summit in L'Aquila, Italy, UKRINFORM's own correspondent reports.

"The Commission is doing all it can to avoid a further disruption of gas supply from Russia via Ukraine. Of course, it does not depend on us, it depends on them, but we are indeed trying to help them find the solution. We hosted a meeting last Monday to bring all the key actors around the table, to look both at how Ukraine can meet its latest payment (due at midnight tonight), and secondly to find a medium and long term sustainable solution. The Gas Coordination Group met last week to discuss the readiness of member states and industry and I think they should now do everything to try to avoid the negative scenario. Of course, we are working for the best, but we are also preparing for the worst," Barroso said.

He reminded that in the context of security of gas supplies, the European Commission is in continuous contacts with the authorities of Ukraine and Russia and it is holding regular consultations with international finance institutions. "We hope to find the solution together with the EBRD, as well as other international finance actors. As referred to the possible consequences, we spoke about this with representatives of the Russian and Ukrainian authorities. I personally discussed the delicacy of the problem with Mr. Putin. We also spoke about that with Mrs. Tymoshenko. I noted that the EU budget has no funds for this purpose," Barroso said.

The Commission President added that the EC will continue contacts with international finance organizations on possible loan extension to Ukraine, but at the same time he stressed that there is no such decision today, and he cannot guarantee a positive outcome of this work.

UKRINFORM