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Sovereign Wealth Funds Briefing - Categorized | Market

Ukraine scores $15 bln from Russia, 33% gas discount

Posted on 18 December 2013

After stringing along Russia, the EU and the Ukrainian people, President Viktor Yanukovich has inked an agreement worth $15 billion in securities and from January 1, can start buying Russian gas for $268 instead of $400 per 1,000 cubic meters. The Russian government will essentially buy $15 billion in Ukrainian debt by investing in Ukrainian securities using money from Russia’s Welfare Fund, President Vladimir Putin announced Tuesday at a meeting with Yanukovich in Moscow.
“For the purpose of supporting the Ukrainian budget the Russian government has made a decision to invest part of the National Welfare Fund, to the tune of $15 billion, in Ukrainian government securities,” Putin said. Russia will invest roughly 17 percent of its $88 billion National Welfare Fund, which, together with Russia’s Sovereign Wealth Fund is used as a sort of buffer for the country’s oil-dependent budget………………………………………..Full Article: Source


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