Domestic gas prices level in September despite IMF, EU promises

Ukraine’s prices for householders and businesses remained steady, despite government promises to the International Monetary Fund and European lenders to raise the rates as of September 1. Energy Minister Yuriy Prodan, according to Reuters, said yesterday that trade unions blocked the increases in courts. Prodan did not say if the ruling will be appealed or when the rates might change. Increasing household gas tariffs was one of the conditions set by the IMF as part of its USD 16.5 bln loan program and was stipulated by EU lenders in order for Ukraine to receive USD 1.5-2.0 bln in funds to modernize its gas system.