Putin: Ukraine #39;s gas debt critical, transit to Europe threatened
Russia #39;s President has warned that Ukraine #39;s gas debt could threaten energy supplies to Europe. Ukraine #39;s accumulated gas debt stands at $2.2 billion, in tot...
By: RT
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Putin: Ukraine's gas debt critical, transit to Europe threatened - Video
NWW World-News 11.04.2014 - Ukraine update - Griechen rufen MERKEL raus!
Ukraine update Pipe down - Griechen rufen MERKEL raus! ARD und ZDF zeigen hier heute leider nur uraltes Archivmaterial keine Leute auf der Strae alles tol...
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NWW World-News 11.04.2014 - Ukraine update - Griechen rufen MERKEL raus! - Video
Ukraine crisis Woman #39;s desperate protest Luhansk March 2014 English Subtitles Revolution explained
Please see English subtitles The woman calls Yatsenyuk a killer.
By: Praskovya
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Ukraine's prime minister went on a charm offensive Friday as he visited the country's southeast, pledging to give regions more powers and to defend the rights of Russian speakers.
Arseniy Yatsenyuk met with regional officials who once opposed his new government in Kiev, but not with protesters occupying government buildings in the cities of Donetsk or Luhansk. Still, he left it unclear how his ideas differed from the demands of the protesters or from Russia's advocacy of federalization for Ukraine.
"There are no separatists among us," said Gennady Kernes, mayor of Kharkiv, Ukraine's second-largest city, where the government recaptured a building taken over by protesters earlier in the week. Kernes and other officials asked Yatsenyuk to allow votes on autonomy for their regions but not on secession.
Ukraine's government has resisted federalization, saying that would lay the groundwork for the country's breakup.
Ukraine's eastern industrial heartland was the support base for Kremlin-friendly president Viktor Yanukovych, who was ousted in February after months of protests. Last month, the Crimea region voted to secede and was annexed by Russia but only after Russia took over the peninsula by force.
Russia has ratcheted up the pressure on Ukraine, with President Vladimir Putin warning European leaders of a risk to the gas supplies going to them through Ukraine. He has threatened that Russia could shut off energy shipments to Ukraine if it fails to pay its debts. Those debts are a source of contention between the two nations, with the Russian estimate rising from $1.7 billion earlier this month to over $35 billion on Thursday.
Before leaving Donetsk for another eastern city, Yatsenyuk told reporters he favors a peaceful solution to the standoff. However, he left the door open to storming the buildings occupied by armed men.
Russia's Foreign Ministry warned the Ukrainian government against using force against protesters, saying that such action would derail the talks on settling the crisis between the United States, the European Union, Russia and Ukraine set for next week, as well as any other diplomatic efforts. It lashed out at the U.S. warning to slap more sanctions on Russia in case of an escalation of the conflict, saying that "an escalation is only and exclusively possible if Kiev dares to do so, relying on massive support of the U.S. and the EU."
The protesters in Donetsk, who have held the regional administration building since Sunday, initially called for a referendum on secession but later reduced the demand to a vote on autonomy, with the possibility of holding another later on whether to join Russia.
Eastern Ukraine has a high proportion of Russian-speakers and many of them fear being repressed by the acting government in Kiev that took over when Yanukovych fled
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Ukraine will probably receive $7 billion in International Monetary Fund financing this year to support the state budget and central bank reserves, Finance Minister Oleksandr Shlapak said.
The east European nation is also seeking further funding from the Group of Seven countries, Shlapak said an interview in Washington yesterday. Of the groups members, Canada has pledged $200 million and the U.S. has also responded, he said.
The government predicts Ukraines economy will shrink 3 percent in 2014, the third recession since 2008, while reserves are at a nine-year low. The country sealed a preliminary accord with the IMF last month for as much as $18 billion in loans during two years, with the agreement unlocking $27 billion in international financing. Ukraine needs about $30 billion through 2015 to balance the situation, Shlapak said.
News from the IMF/World Bank Spring Meetings:
We have fulfilled all preliminary requirements we have agreed with the IMF, Shlapak said. Tomorrow, we will report that to our IMF colleagues.
The hryvnia has weakened 35.2 percent against the dollar this year, the worst performance among more than 170 currencies tracked by Bloomberg. It depreciated 0.9 percent to 12.7109 per dollar as of 10 p.m. in Kiev.
As to its adequacy, well need more than the numbers the IMF are currently looking at I believe in Ukraine, said Canadian Finance Minister Joe Oliver today in Washington. This is an issue subject to continual study and review.
The currency will rebound after the IMF deal is completed, Shlapak said. Ukrainian officials will meet IMF Managing Director Christine Lagarde on April 14 and the government hopes the lenders board will convene to approve the loan this month, he said. Ukraine wants to get the funds as soon as possible, he added.
While we announced the $27 billion, which is the financing need of the country for the next 24 months, we have also given a range for the financing that would come from the fund, and that range has been $14 to $18 billion, IMF European Director Reza Moghadam said today in Washington. Our exact financing will depend on how much comes from other bilateral and multilateral lenders.
The hryvnia plunged during almost five months of political turmoil, including deadly street clashes in Kiev in February and the Russian annexation of the Crimean peninsula from Ukraine in March. President Vladimir Putin yesterday threatened to halt gas supplies to Ukraine because of the countrys debt, while NATO says that about 40,000 combat-ready Russian troops are massing along the countries border.
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