Russia, Ukraine seek resolution to end gas

Russian President Dmitry Medvedev and his Ukrainian counterpart Viktor Yanukovych met on Saturday and discussed ways in an attempt to settle the gas dispute between the two countries. Before the informal closed-door meeting at the Russian president's residence outside Moscow, both presidents said they were ready to take steps to solve the long-standing deadlock over contract terms concerning Russian gas sold to Ukraine. Russian Prime Minister Vladimir Putin also attended the informal closed-door meeting later on Saturday. Yanukovych said he was convinced that everything would be solved in a constructive way. Ukrainian Energy Minister Yuri Boyko told reporters Saturday that his country believes the fair price for Russian gas should be 230 U.S. dollars per 1,000 cubic meters, but currently Ukraine pays 355 dollars and the price is expected to go higher by the end of this year. The Ukrainian government has long urged Russia to review the existing gas pricing formula, but the two sides have not reached consensus on the issue so far. Leaders of both countries have met several times, with the purpose of finding a mutually accepted solution to the deadlock. The last meeting between Medvedev and Yanukovych was held on Aug. 11, and both sides admitted that they were still divided on gas price.