Gazprom sanctions for gas untaken by Ukraine out of step with market relations, are disputable, says Yanukovych

13:55, 06.02.2013 1 min read

Ukrainian President Viktor Yanukovych considers unfair Gazprom's fines on Ukraine for untaken gas.

"We think that these sanctions that were written into the agreement…in 2009 do not correspond with market relations between businesses and are disputable," Yanukovych said during a joint press conference with Lithuanian President Dalia Grybauskaite in Vilnius on Wednesday.

"So we've replied to Gazprom that these sanctions [and] this bill [for $7 billion] are unfair," Yanukovych said.

Ukraine has agreed with Russia to hold negotiations over this matter, he said.

Yanukovych said he thinks a fair gas price for Ukraine would be the price of gas on the spot market less the cost of transportation.