Tuesday, July 29, 2014


Ukraine

Ukraine Says Suspending Russian Gas Payments

Andriy Kobolev, chief executive of Ukraine's Naftogaz energy company.
Andriy Kobolev, chief executive of Ukraine's Naftogaz energy company.
Ukraine says it is suspending payments to Russia for natural gas deliveries until the dispute over the huge price increase that Russia is demanding is resolved.

Andriy Kobolev, chief executive of Ukraine's Naftogaz energy company, said April 12 that Russia's decision last week to almost double the price for gas delivered to Ukraine is unjustified and unacceptable.

Kobolev said Ukraine had suspended payments until the appropriate price is agreed on. 

However, Ukraine has de facto stopped payments already because it failed to pay over $500 million for Russian gas due earlier this month.

Moscow says Ukraine owes some $2.2 billion in gas arrears. 

German Finance Minister Wolfgang Schaeuble said in Washington April 11 the West must consider together how to help Kyiv pay its gas bills to Russia.
 
Based on reporting by Interfax and Reuters 

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