A sharp fall in Ukraine's currency has added $82 million to the country's bill for natural gas, imported from Russia, Ukraine's national gas company Naftogaz said Wednesday.
The company said its budget envisaged an exchange rate of 5.01 hryvna per dollar. However, the current financial crisis saw Ukraine's currency exchange rata decline to UAH7.32. "As a result of the decline in the hryvnia's rate in October-November, the company has sustained unexpected losses of about UAH600 million," Naftogaz said.
Naftogaz is currently in talks with Russia's gas monopoly OAO Gazprom (GAZP.RS), which supplies gas to Ukraine, over a new contract for gas deliveries in 2009.
Gazprom is insisting that the new contract can only be signed once the issue of Ukraine's gas debts is fully resolved.
Russia says Naftogaz owes Gazprom $2.4 billion for gas deliveries in September, October and November. Although Kiev earlier disputed the amount, the Ukrainian gas firm agreed to pay part of this debt.
Naftogaz also blames its rising debt on Ukraine's companies and municipalities, which delay payments for gas.
Gazprom has said that the price Ukraine pays for gas could increase to $400 per 1,000 cubic meters from the current $179.50.