The President's team and the Government have reached economically sound gas transit agreements that will protect Ukraine's interests.

Following trilateral gas talks between Ukraine, Russia and the European Union, the parties inked a Record of a meeting of representatives of the European Union, Ukraine and the Russian Federation, and companies of these countries (LLC Operator of the Gas Transit System of Ukraine, NJSC Naftogaz of Ukraine and PJSC Gazprom).

The terms of the future agreement are the following:

- compensation of USD 2.1 billion set-off to  Ukraine in line with the decision of the Stockholm Arbitration (represented by Naftogaz);

- annual budget filling over the next 5 years due to the transportation tariff set by the regulator. The tariff  for transportation will be higher than it is now. The agreement encapsulates the possibility of extension in 5 years on similar terms;

- minimum guaranteed volumes of gas transit: 65 billion cubic meters in the first year and 40 billion cubic meters per each in the next 4 years. Actual volumes may be higher;

- the tariff will be determined by the regulator in line with the European methodology;

- Ukraine praises the constructive stance of all parties to the negotiations;

- special gratitude to the United States for the strong stand and support.

"The most important thing is that we have provided stability both in the Ukrainian market and in the European ones. This means that Ukraine is a reliable partner, fulfills its obligations, guarantees energy security in the region," Minister of Energy and Environmental Protection of Ukraine Oleksiy Orzhel stressed.

The Minister added that economic agents will sign documents on all transit issues after agreement of framework principles at the political level next week.

According to Oleksiy Orzhel, Russia will also pay $2.9 billion by the New Year in line with the decision of the Stockholm Arbitration.

"The terms of the agreement will be harmonized with European legislation, which is very important. We have to sign everything till December 29th in order to preserve the transit from January 1," Yuriy Vitrenko, Executive Director of Naftogaz of Ukraine underlined.

Oleksiy Orzhel emphasized: "Both President of Ukraine Volodymyr Zelenskyy, the Government and the Verkhovna Rada did a practically impossible thing. We have made significant and serious steps in terms of ensuring European legislation and guaranteeing transit across Ukraine".

Now the agreement is concluded and the transit will continue.

"Given the stable situation, this should be a prerequisite for reducing gas prices. Our European partners are interested in that as well," the Minister underscored.

"Arbitration over Naftogaz's assets in Crimea is not captured in the record of a meeting, it is a separate process. The Russian Federation, which is a party to the proceedings, is responsible for the corresponding claims of Naftogaz," Executive Director of Naftogaz of Ukraine underlined.