Gas deal a 'time bomb,' Yushchenko says

KIEV, Ukraine, May 19 (UPI) -- The gas contract between Kiev and Moscow signed in January needs review as it was reached under politically sensitive terms, the Ukrainian president said.

A January dispute between Kiev and Moscow over gas debts and contracts prompted gas monopoly Gazprom to suspend gas deliveries to Ukraine. Negotiations between Ukrainian Prime Minister Yulia Tymoshenko, a former gas mogul, and her Russian counterpart Vladimir Putin culminated in a new 10-year contract.

That contract obligates Ukraine to specific gas volumes and payment for monthly gas supplies by the seventh day of the following month.

In an interview with Slovene-language newspaper Delo, President Viktor Yushchenko called the agreement unfavorable, noting the terms were loaded with political maneuvering, RIA Novosti reports.

Ukraine faces tough economic times as the global recession strikes particularly hard. Kiev had faced difficulties with meeting the terms of the gas contracts in the past, though Putin has displayed modest patience with the current economic climate.

Yushchenko, for his part, said the agreement was unacceptable.

"This is a time bomb which has been set because of a lack of professionalism," he told Delo.