Below are translated excerpts from the joint statement made by President Yushchenko and PM Tymoshenko on December 31, 2008:
According on our assessments, based on the  memorandum, at the beginning of 2009 the price of Russian natural gas for Ukraine at the Ukraine-Russia border should be $201 per 1,000 cubic meters and the fee for transit via Ukraine’s territory should be no less than $2 per 1,000 cubic meters per 100 km of distance.
The conditions offered by the Russian Federation, raising the price to $250, considering the steep decline in world oil prices, would in fact set for Ukraine the average European price. Meanwhile, the Russian side is offering to preserve the $1.7 transit fee, which makes up less than half of the average European figures. This transit rate renders gas pipeline maintenance practically impossible.
We assert once again that Ukraine guarantees the safe and uninterrupted transit of Russian natural gas to European consumers via its territory.
We call on the Russian side, in the spirit of strategic partnership and the traditionally friendly relations between our countries, to aid in the common effort to expedite the negotiation process regarding the supply and transit of Russian natural gas.
Gazprom claims to have shut down supplies to Ukraine as of 9:00 a.m. Kyiv time, but says it continues to supply Europe.