Ukraine PM to Attend Customs Union Summit in Russia

MOSCOW, December 23 (RIA Novosti) – Ukraine’s prime minister is to attend a meeting Tuesday of the Supreme Eurasian Economic Council in Moscow with the leaders of Russia, Belarus and Kazakhstan, a Russian presidential aide said.

“The presidents of Armenia and Kyrgyzstan – countries that applied for admission to the Customs Union and the Common Economic Space – have been invited to attend,” Yuri Ushakov said Monday.

“Ukrainian Prime Minister Mykola Azarov will also be present as an observer,” he said.

Ukraine has observer status in the Moscow-led Customs Union of Russia, Belarus and Kazakhstan and has already taken part in that capacity in a number of events involving the union’s members.

Ushakov said Russia sees no contradiction between Ukraine’s plans for integration with the Customs Union and for closer ties with the European Union.

© Сollage by RIA Novosti

Customs Union of Russia, Belarus and Kazakhstan

Mass protests are continuing in Kiev, the Ukrainian capital, over President Viktor Yanukovych’s last-minute decision to reject an association agreement with the EU to boost trade and political ties. The government announced instead that it would seek closer links with the Customs Union, while leaving open the possibility of an agreement with the EU at a later date.

Moscow has repeatedly said that Customs Union members would have to take steps to protect their markets if Ukraine went ahead with the EU agreement.

Russia’s President Vladimir Putin announced a big cut in the cost of gas sold to Ukraine at a meeting with Yanukovych in Moscow last week. Ukraine’s Naftogaz energy company will now pay $268.5 per 1,000 cubic meters, compared to the current $400.

Russia also announced that it would draw on its national wealth fund to buy $3 billion in Ukrainian eurobonds by the end of this week, making a swift start to its plans to provide $15 billion worth of credit to its cash-strapped neighbor.

Ushakov said Monday that work to establish the Eurasian Economic Union by January 1, 2015 would be discussed at Tuesday’s meeting. Documents on a common customs policy, regulation of natural monopolies’ activities and competition rules would be signed after the meeting.