Two countries outside the “Eurasian Economic Community” reached a trade agreement of potentially greater importance. Ukraine and Turkmenistan signed an agreement that provides for delivery to Ukraine of five billion cubic meters of gas in the remainder of this year and 30 billion cubic meters in 2001. The agreement replaces a longer-term letter of intent that collapsed last July. The stated price per thousand cubic meters is $38 this year, rising to $40 in 2001. But the price is f.o.b. at Turkmenistan’s border. Delivery is possible only through Soviet-era pipelines across Uzbekistan, Kazakhstan and Russia, so Ukraine still faces tough transit negotiations that could easily double the price before any gas arrives. Talks with Russia will be especially difficult. Ukraine’s gas debts to Russia totaled $1.5 billion at the end of 1999 and have undoubtedly grown since then.