Support The Moscow Times!

Ukraine Rejects IMF Calls to Raise Gas Prices

KIEV — Ukrainian President Viktor Yanukovych on Friday rejected calls by the International Monetary Fund to make domestic consumers pay more for gas, resisting an unpopular step before a presidential election due early in 2015.

The refusal to end subsidies in which state-run energy company Naftogaz sells gas to households and other domestic consumers at prices far below the level at which it buys from Russia will hurt Ukraine's chances if it seeks new IMF funding, as some observers expect it will be forced to.

"IMF demands to raise gas prices for households will not be accepted under any circumstances," Yanukovych said, the presidential press service reported.

"We will never allow measures which cause people to suffer and which adversely affect the financial state of our population."

Read more

Independent journalism isn’t dead. You can help keep it alive.

As the only remaining independent, English-language news source reporting from Russia, The Moscow Times plays a critical role in connecting Russia to the world.

Editorial decisions are made entirely by journalists in our newsroom, who adhere to the highest ethical standards. We fearlessly cover issues that are often considered off-limits or taboo in Russia, from domestic violence and LGBT issues to the climate crisis and a secretive nuclear blast that exposed unknowing doctors to radiation.

Please consider making a one-time donation — or better still a recurring donation — to The Moscow Times to help us continue producing vital, high-quality journalism about the world's largest country.