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IMF Demands Ukraine Pay 50% More for Russian Gas Print E-mail
by Tom McGregor    Fri, Mar 28, 2014, 12:16 AM

Russian President Vladimir Putin loves the Washington D.C.-based International Monetary Fund (IMF). The Ukraine government has agreed to receive an $18 billion (US dollar) IMF loan by forcing Ukrainians to pay 50 percent more for Russian natural gas consumption.

According to the BBC News, "The IMF says a key part of Ukraine's reform programme will focus on the country's state-owned energy company, Naftogaz, which imports gas from Russian energy giant Gazprom."

 

Putin is supportive of Sen. John McCain's (R.-Az.) legislative efforts as well. Sen. McCain introduced a bill to provide the Ukraine a $1 billion loan to Kiev, if the Ukraine government agreed to pay much higher rates for natural gas from Russia energy giant, Gazprom.

As reported by the BBC News, "A cut in energy subsidies to consumers has been one of the conditions of an international rescue deal and on Wednesday Ukraine's interim government agreed to raise domestic gas prices by 50% in its effort to secure the IMF aid package."

Nevertheless, Putin returned the favor by banning Sen. McCain from entering Russia. The Kremlin believes he can do a more effective job helping Moscow interests by staying in Washington and slamming his fellow Republican lawmakers and calling them, 'Wacko Birds.'

To read the entire BBC News article, link here:

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