Ukraine's Finance Minister Viktor Pynzenyk has tendered his resignation in protest over Kiev's gas deal with Russia, an internet news site quoted government sources as saying on Thursday.

Pynzenyk said the agreement, which almost doubled gas import prices for Ukraine, has endangered the 2006 budget, according to the website Ukrainska Pravda.

The minister has said earlier this week that the gas deal with Russia also threatened the solvency of state oil and gas company Naftogaz as gas price could increase further.

Under a new gas deal between Ukraine and Russia, Kiev has agreed to buy gas from Russia at a price of 95 U.S. dollars per 1,000 cubic meters, a sharp rise from the previous price of 50 dollars.

Source: Xinhua