Ukraine hopes to import gas from Europe

|By:, SA News Editor

Ukraine is looking to import natural gas from Europe after Gazprom (OGZPY) said it would raise the prices it charges Ukraine to $485 per 1,000 cubic meters from a previously discounted $268.50.

Prime Minister Arseniy Yatsenyuk said that the country is ready to challenge the new price in international arbitration but should prepare for Russia to turn off the supplies.

The energy crisis comes with Ukraine struggling to avoid defaulting on its massive debt.

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