KIEV, March 14 - RAPSI. Ukraine is ready to go to international court if Russia refuses to revise its gas contracts, Dmitrij Svyatash, a Party of Regions MP, said during a Channel Five broadcast.

The Party of Regions is the ruling party in Ukraine, holding the majority of seats in parliament. President Viktor Yanukovich is its honorary leader and Prime Minister Nokolai Azarov is its head.

Svyatash is confident that the contract runs counter to Ukraine's interests. In his opinion, the contract has inflicted more than $10 billion in losses on Ukraine.

In late January, Azarov said Kiev does not rule out the possibility of settling the gas issue with Moscow in court.

Ukraine has been involved in lengthy negotiations with Moscow to reduce the gas price, which Kiev regards as unfair and gas contracts as onerous.

According to Naftogaz of Ukraine, the gas price for Ukraine is $416 per 1,000 cubic meters in the first quarter of 2012, $418 in the second and third quarters and $413 in the fourth quarter.