Russia's President Vladimir Putin (R) speaks with then-First Deputy Prime Minister Dmitry Medvedev (L) at a session of the Council for National Projects in Moscow's Kremlin on March 7, 2007. REUTERS/Natalia Kolesnikova/Pool MOSCOW (Reuters) - Russian Prime Minister Medvedev said in a meeting with President Vladimir Putin on Friday that in total Ukraine owes Russia $16 billion, local news agencies reported.

Medvedev said that Ukraine owes Russia $11 billion because the treaty under which Russia provides Ukraine with cheap gas in return for the Sevastopol naval base was "subject to denunciation".

In addition, he said that Ukraine owes Russia $3 billion for a recent loan in the form of Russian purchase of Eurobonds, and that around $2 billion is owed to Gazprom, Russia's state-controlled gas concern.

(Reporting by Jason Bush; Editing by Lidia Kelly)