Russian credit should be rationally used, Yanukovych says
President of Ukraine Viktor Yanukovych has said it is necessary to find rational ways to spend the financial resources that Russia has provided, and warned government members about their personal responsibility for the implementation of contracts on industrial cooperation between the two countries.
"These agreements [create the] conditions for our domestic transformation. We shouldn't wait for miracles. We have to make use of these opportunities and find efficient ways to use these resources," Yanukovych said during the opening of the Council of Regions in Kyiv on Thursday.
According to Yanukovych, the agreements reached with Russia will give an opportunity for national production to grow, in particular, the competitiveness of Ukrainian goods will be increased and new jobs will be created.
Talking to government members and Premier Mykola Azarov, the president warned them that they bore personal responsibility for the breaking of bilateral contracts.
"You will bear personal responsibility for any frustration of the implementation of these contracts and projects. I want to warn you personally," he said.
After the meeting of Ukrainian and Russian presidents Viktor Yanukovych and Vladimir Putin on December 23, Russia acquired a first tranche of Ukrainian eurobonds worth $3 billion with repayment on December 20, 2015 due to Russian National Welfare Fund.
Moreover, Naftogaz and Gazprom signed supplement to the gas purchase and sale contract in 2009, which is valid until the end of 2019, on the reduction of price up to $268.5 per 1,000 cubic meters, however, this price should get approval each quarter.
