Ukraine quickly signs gas deal with Russia not to freeze to death in winter

Ukraine, Russia and the EU signed a legally binding protocol on gas supplies before 2015. The document was signed by Russian Energy Minister Alexander Novak, Ukrainian Energy Minister Yury Prodan and Vice-President of the European Commission Günther Oettinger.

Russia's Gazprom and Naftogaz of Ukraine signed an agreement on the appendix to the gas supplies contract. The document was signed by the head of the Russian gas company, Alexei Miller, and the head of the Ukrainian company, Andrei Kobarev, Interfax reports.

Russia has thus agreed to give Ukraine a discount of $100 per one thousand cubic meters of natural gas from November 2014 to March 2015. Before the end of the year, Ukraine will buy up to 4 billion cubic meters of gas from Russia.

The EU and the IMF will give money to Ukraine to pay off the gas debt to Russia, said Oettinger. Alexander Novak said that Ukraine confirmed the availability of funds for the supply of four billion cubic meters of gas.

In addition, in the coming days, Ukraine plans to pay $1.45 billion of gas debt. According to Yuri Prodan, Russia will resume gas supplies to Ukraine afterwards. Before the end of the year, the country will thus repay $3.1 billion of debt to Russia. Ukraine owes for gas supplies in November and December of 2013 and in the period from April to June 2014.

Gazprom may resume gas supplies to Ukraine within 48 hours, after Ukraine pays for gas in advance, the company CEO Aleksei Miller said.