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| Russia cuts Ukraine gas price by a third | Russia cuts Ukraine gas price by a third |
| (about 1 hour later) | |
| Russia has given Ukraine a discount of almost a third on Russian gas and said it would buy billions of dollars' worth of Ukrainian government bonds. | Russia has given Ukraine a discount of almost a third on Russian gas and said it would buy billions of dollars' worth of Ukrainian government bonds. |
| The moves come amid Russian attempts to stop Ukraine moving towards the EU. | The moves come amid Russian attempts to stop Ukraine moving towards the EU. |
| Russian President Vladimir Putin and his Ukrainian counterpart Viktor Yanukovych announced the moves, but said they had not discussed Ukraine joining a Russian-led customs union. | Russian President Vladimir Putin and his Ukrainian counterpart Viktor Yanukovych announced the moves, but said they had not discussed Ukraine joining a Russian-led customs union. |
| Protests continued in Kiev over the deepening ties with Russia. | Protests continued in Kiev over the deepening ties with Russia. |
| After talks between the two men in the Kremlin, it was announced Russia would buy $15bn-worth (£9.2bn; 10.9bn euros) of Ukrainian government bonds. | After talks between the two men in the Kremlin, it was announced Russia would buy $15bn-worth (£9.2bn; 10.9bn euros) of Ukrainian government bonds. |
| The cost of Russian gas supplied to Ukraine has been slashed from more than $400 (£245; 291 euros) per 1,000 cubic metres to $268.5. | The cost of Russian gas supplied to Ukraine has been slashed from more than $400 (£245; 291 euros) per 1,000 cubic metres to $268.5. |
| Mr Putin said the assistance was not "tied to any conditions". | Mr Putin said the assistance was not "tied to any conditions". |
| Both of the latest measures are intended to ease Ukraine's financial woes at a time when the country is struggling to avoid default, the BBC's Steven Rosenberg reports from Moscow. | Both of the latest measures are intended to ease Ukraine's financial woes at a time when the country is struggling to avoid default, the BBC's Steven Rosenberg reports from Moscow. |
| While the two leaders did not discuss Ukraine joining the Russian-led customs union, they did speak about a strategic partnership and signed a raft of agreements on economic and industrial co-operation, our correspondent adds. | While the two leaders did not discuss Ukraine joining the Russian-led customs union, they did speak about a strategic partnership and signed a raft of agreements on economic and industrial co-operation, our correspondent adds. |
| The measures certainly appear to tie Ukraine closer to Russia, and helps the Kremlin achieve its geopolitical aim of preventing Ukraine from drifting from its orbit, he says. | |
| Mr Yanukovych's U-turn on an EU association agreement deal last month sparked mass demonstrations. | Mr Yanukovych's U-turn on an EU association agreement deal last month sparked mass demonstrations. |
| He admitted his decision had been influenced by heavy pressure from Russia. | He admitted his decision had been influenced by heavy pressure from Russia. |
| The current protests, the largest since Ukraine's 2004 Orange Revolution, are pushing for the resignation of Mr Yanukovych and his government, and snap elections. | The current protests, the largest since Ukraine's 2004 Orange Revolution, are pushing for the resignation of Mr Yanukovych and his government, and snap elections. |
| Correspondents say many Ukrainians will be worried about what may have been agreed between Mr Yanukovych and Mr Putin in exchange for the latest assistance. | Correspondents say many Ukrainians will be worried about what may have been agreed between Mr Yanukovych and Mr Putin in exchange for the latest assistance. |
| Opposition leader and boxing champion Vladimir Klitschko condemned the new measures at a rally in the Ukrainian capital Kiev. | |
| Mr Yanukovych had "given up national interests, independence and prospects for a better life for Ukrainians", Mr Klitschko said, adding that he wanted early elections and to meet Mr Yanukovych "in the ring". | |
| Gas bill | Gas bill |
| The gas agreement signed between Russia's Gazprom and Ukraine's Naftogaz amends a controversial 2009 deal signed by former Ukrainian Prime Minister Yulia Tymoshenko, for which she was jailed two years ago. | The gas agreement signed between Russia's Gazprom and Ukraine's Naftogaz amends a controversial 2009 deal signed by former Ukrainian Prime Minister Yulia Tymoshenko, for which she was jailed two years ago. |
| Ukraine relies on imports of Russian gas - and heavy energy-intensive industries in eastern Ukraine are especially anxious to keep the price of gas down. Some 75% of Ukraine's engineering exports go to Russia. | Ukraine relies on imports of Russian gas - and heavy energy-intensive industries in eastern Ukraine are especially anxious to keep the price of gas down. Some 75% of Ukraine's engineering exports go to Russia. |
| "Russia and Ukraine are... united both by many centuries of our friendship and by having lived a long time together in the same country," Mr Putin said. | "Russia and Ukraine are... united both by many centuries of our friendship and by having lived a long time together in the same country," Mr Putin said. |
| Trade between the two countries, he said, had dropped over the past two years, by 11% in 2012 and 14.5% this year. | Trade between the two countries, he said, had dropped over the past two years, by 11% in 2012 and 14.5% this year. |
| "It is of course time to take vigorous action not only to return to the level of previous years, but also create conditions for moving forward," he added. | "It is of course time to take vigorous action not only to return to the level of previous years, but also create conditions for moving forward," he added. |
| Mr Yanukovych said Ukraine would work with Russia and other ex-Soviet states to implement the free trade deal they signed two years ago. | Mr Yanukovych said Ukraine would work with Russia and other ex-Soviet states to implement the free trade deal they signed two years ago. |
| With talks on resuming credit from the International Monetary Fund stalled, Ukraine requires urgent financial assistance in the coming months to keep the economy afloat. | With talks on resuming credit from the International Monetary Fund stalled, Ukraine requires urgent financial assistance in the coming months to keep the economy afloat. |
| Kiev also needs to find about $17bn next year to pay its outstanding gas bill to Russia. | Kiev also needs to find about $17bn next year to pay its outstanding gas bill to Russia. |
| Meanwhile, EU foreign ministers on Monday used a high-level meeting to reassure Russia that the association agreement with Ukraine (guide here) would not undermine Moscow's interests. | Meanwhile, EU foreign ministers on Monday used a high-level meeting to reassure Russia that the association agreement with Ukraine (guide here) would not undermine Moscow's interests. |
| Supporters say closer ties with the EU could make the economy more open, transparent and prosperous, with greater competition and protection for investors. | Supporters say closer ties with the EU could make the economy more open, transparent and prosperous, with greater competition and protection for investors. |
| But the EU partnership requires far-reaching and expensive reforms, which the government says would put at risk many enterprises reliant on trade with Russia. | But the EU partnership requires far-reaching and expensive reforms, which the government says would put at risk many enterprises reliant on trade with Russia. |
| Moscow has already put economic pressure on Ukraine, with customs delays and a ban on Ukrainian chocolates, and could escalate such measures. | Moscow has already put economic pressure on Ukraine, with customs delays and a ban on Ukrainian chocolates, and could escalate such measures. |
| Russia fears that such a deal would damage the country's economy by letting in a massive flow of EU products via Ukraine. | Russia fears that such a deal would damage the country's economy by letting in a massive flow of EU products via Ukraine. |
| Moscow wants Kiev to join the customs union instead of signing the EU pact. | Moscow wants Kiev to join the customs union instead of signing the EU pact. |
| The Russian-led union now also includes Belarus and Kazakhstan, but pro-EU protesters regard the grouping as a modern embodiment of the Soviet Union. | The Russian-led union now also includes Belarus and Kazakhstan, but pro-EU protesters regard the grouping as a modern embodiment of the Soviet Union. |
| Mr Yanukovych has said he eventually aims to sign the EU deal, but wants at least 20bn euros a year to pay for the necessary upgrading of Ukraine's economy. | Mr Yanukovych has said he eventually aims to sign the EU deal, but wants at least 20bn euros a year to pay for the necessary upgrading of Ukraine's economy. |