Thanks to lower price of the Russian gas, Crimea will save UAH 8.4 million

Thanks to the agreements reached between Ukraine and Russia on reduction of natural gas prices, spending part of the 2014 Crimean budget will be reduced by UAH 8.4 million, said Finance Minister of the Autonomy Sergei Kopitov at the meeting of the Crimean government on January 21.

Lower prices for Russian gas enabled the Autonomy to reduce the funds provided for energy payments for budgetary enterprises and organizations.

“In addition, on the completion of this heating season we will consider further reduction of these costs, to redirect the funds to other priority expenditures,” said the Minister.

On December 17, after meeting of Presidents of Ukraine and Russia Viktor Yanukovych and Vladimir Putin in Moscow, price of gas for Ukraine was reduced to $268.5 per thousand cubic meters from the earlier price of over $400.

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