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Russia lends $6bn to Ukraine atomic energy industry
January 10, 2014, 5:04 pm

Russia offered major economic assistance to Ukraine last month with a multi-billion investment deal that helped Kiev avoid bankruptcy [Getty Images]

Russia offered major economic assistance to Ukraine last month with a multi-billion investment deal that helped Kiev avoid bankruptcy [Getty Images]

Ukraine’s Economy Ministry on Friday said Russian banks are willing to lend $6 billion to aid Kiev’s atomic energy sector.

A statement from the Ukrainian Ministry said Russian President Vladimir Putin had agreed on the deal in December at a meeting with his Ukrainian counterpart Viktor Yanukovich in Moscow.

“Ukraine will use Russian technology because of its good technical features. It is fourth-generation technology, with a very high security threshold,” said a Ukrainian official Valery Muntiyana on Friday.

Russia offered major economic assistance to Ukraine last month with a multi-billion investment deal that helped Kiev avoid bankruptcy.

In November the Ukrainian government backtracked from an association deal with the EU saying it would harm economic relations with Russia, prompting mass demonstrations by pro-EU protesters and throwing the country into a political crisis.

Putin granted a $15 billion loan to Ukraine in December and also announced that Russia will sell gas to Ukraine’s Naftogaz energy company for $268.5 per 1,000 cubic meters, well below the current level of more than $400.

Ukraine is struggling with a financial crisis and with a balance of payments deficit and unpaid gas bills from Russia.

 

Source: Agencies

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