Asia Time Online - Daily News
Asia Times Chinese
AT Chinese

    Central Asia
     May 29, '14

Time runs out on Ukraine's gas debt
By Radio Free Europe

A deadline is looming for Ukraine to pay off its natural gas debts to Russia's state-controlled Gazprom or face a supply cut that also would impact other parts of Europe.

Ukraine has until midnight on May 29 to pay Russia US$2 billion for natural gas debts under a European Union-brokered

agreement. If Ukraine fails to meet the deadline, it faces the possibility that Russia will cut off its natural supply next week.

Gazprom chief Aleksei Miller said at a cabinet meeting in Moscow on May 28 that the restriction of gas supplies to Ukraine was go into effect at 10:00 (Moscow time) "in the event that Ukraine does not transfer" the money.

The cuts also would mean a cut in natural gas deliveries to countries in the European Union that receive shipments through the pipeline network that transits Ukraine.

Russian President Vladimir Putin said at the May 28 cabinet meeting that the amount of unpaid gas Russia has provided to Ukraine is larger than the "entire annual supply" that Russia now sends to Poland.

Putin said: "It cannot continue indefinitely. It is simply impossible." More ...

Reprinted with the permission of Radio Free Europe/Radio Liberty, 1201 Connecticut Ave NW, Washington DC 20036. For original article, see here

Copyright (c) 2014, RFE/RL Inc.





All material on this website is copyright and may not be republished in any form without written permission.
Copyright 1999 - 2013 Asia Times Online (Holdings), Ltd.
Head Office: Unit B, 16/F, Li Dong Building, No. 9 Li Yuen Street East, Central, Hong Kong
Thailand Bureau: 11/13 Petchkasem Road, Hua Hin, Prachuab Kirikhan, Thailand 77110