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2 Sep, 2009 08:22

Gas deal a breakthrough for Ukraine – analyst

Russia and Ukraine say they have overcome their disagreements on supplies of Russian gas.

Vladimir Putin met with Ukraine's Prime Minister Yulia Timoshenko in Poland, where they agreed Kiev can import less gas without being fined for breaking existing agreements.

This agreement will definitely have a positive impact on Ukraine’s ability to deal with the crisis and make $1.8 billion gas payments at the end of this year. Lucas Romriell, managing director of the Kiev-based investment bank Galt & Taggart Securities, explained:

“Political instability is not beneficial for Ukraine’s economy. Ukraine is going to remain uncertain in a political sense for at least the coming six months until presidential election. It is going to be a bumpy road, but after the presidential elections there will be a chance to agree on how the country is going to be run.”