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Ukrainian prime minister welcomes Moscow's purchase

12-25-2013 06:24 BJT

Russia has bought 3 billion US dollars worth of Ukrainian bonds in a bid to support its neighbor’s economy. Ukrainian Prime Minister Mykola Azarov says the purchase has helped pull Ukraine from its financial abyss.

"It is my pleasure to announce, that the National Bank of Ukraine has received the first entrance of Russian money in its accounts. For us, it is a stabilising factor, a very significant stabilising factor. Thanks to the agreement, our credit rating has improved, which means we have left the zone - the financial situation - in which we found ourselves in. We are grateful to the President of Russia and all our partners." said Mykola Azarov, Ukrainian Prime Minister.

The purchase was made on Monday and annnounced by Russian Prime Minister Dmitry Medvedev Tuesday when he met Azarov in Moscow. It is the first batch of a 15 billion US dollar Ukrainian government bond deal secured by Russian President Vladmir Putin and his Ukrainian counterpart Viktor Yanukovych last week.

Russia also slashed gas prices for Ukraine. The agreement was signed after Yanukovych dropped a landmark deal with the European Union in favour of closer alignment with Russia. Daily protests have been underway across the country. Opposition leaders say Yanukovych will use Putin’s bailout to continue tightening the screws at home.

Editor:James |Source:

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