EU ROUND UP – RUSSIA, UKRAINE BURY HATCHET OVER OIL TRANSIT FEES
January 1st, 2010
BY KEITH NUTHALL
RUSSIA and Ukraine appear to have headed off an oil transit dispute that could have created a repeat of last year's major disruption of European natural gas supplies. Moscow and Kiev have signed an agreement increasing by 30% the fees Ukraine charges on transporting Russian oil to the European Union (EU) - this alters a 2004 contract and the change had sparked a diplomatic tussle. This had led to Russia using for the first time an Early Warning Mechanism established in November, designed to help EU countries prepare for a potential gas cut-off. ...
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