The Ukrainian economy will experience a decline in case of transit termination – Vitrenko

In the case of transit termination of the Russian gas through the territory of Ukraine, Ukrainian economy will experience a decline in 2020 and may amount to 0.7%. This was stated by executive director of Naftogaz Yurii Vitrenko in an interview with Ukrinform.

“Every month, we received $200-250 million due to transit, and in January there will actually be the last payment for December 2019, but in February it will be stopped. And the government will feel the effect immediately”, Vitrenko said.

According to him, according to Naftogaz’s calculations, in case of transit interruption, the economy may experience a decline of 0.7% instead of the projected growth of 3.3%.

Vitrenko hopes that Ukraine will be ready for such a scenario, as Naftogaz warned in advance both the government and everyone who had to prepare, about such a scenario, as well as the possible consequences.

Recall, the company Nord Stream 2 AG has completed the construction of Nord Stream 2 in Russia.

Earlier it was reported that the Russian company Gazprom announced the conditions for the continuation of the transit contract in 2020. Among them is the restoration of direct purchases of Russian gas. They also noted that Naftogaz should refuse winnings in international arbitrations.

Tags: The Cabinet of Ministers, Gazprom, gas, Naftogaz, contracts, Nord Stream 2, hydrocarbon production, legislation, EU, The Minystry of Energy and Coal Mining, Top management, gas imports, energy market, gas transit, GTS, RF, foreign affairs, Витренко

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