YEREVAN, March 21. / ARKA /. An agreement, under which Russia granted Kiev a discount of U.S. $100 per 1,000 cubic meters of natural gas, must be denounced and Ukraine must pay Moscow $11 billion which it lost on the price reduction, Prime Minister Dmitry Medvedev told President Vladimir Putin on Friday, Prime reports.

“I think that it would be absolutely legal to raise the matter of demanding this money from Ukraine’s budget which could be done through the courts on the basis on the denounced treaty,” Medvedev said.

At the end of 2013, Russia offered Ukraine a discounted gas price of $268.5 per 1,000 cubic meters for 2014 compared with an average $400 Kiev paid in 2013. The reduced price is prolonged on a quarterly basis. From April 1, Ukraine will pay $380 per 1,000 cubic meters.

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Russian premier Dmitry Medvedev instructed the central bank, the country’s ministry of finance and the treasury to ensure all Russian banks are connected to the state information system of state and municipal payments before November 6, 2013, the government press office reported

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Russian President Dmitri Medvedev invited Armenian businessmen to participate in Russian projects and programs.

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