Russia's Gazprom issues May 7 ultimatum over Ukraine gas supplies


Gazprom (OGZPY) is ratcheting up the pressure on Ukraine, issuing a May 7 ultimatum to settle $3.5B in unpaid debts or start paying in advance for its gas.

Alexander Medvedev, deputy chief executive, warns that Europe must help Ukraine pay the bill - plus a further $5B needed to refill storage facilities this summer - or face "severe problems” with gas supplies this winter.

By May 7, Ukraine would owe ~$3.5B for gas it has used in recent months, Medvedev says; if the country failed to pay, Gazprom would stop supplying it with gas for domestic use from June.

~30% of European gas comes from Russia, and roughly half of that passes through the Ukraine under transit agreements.

From other sites
Comments (2)
  • Kamil Kolacek
    , contributor
    Comments (1109) | Send Message
     
    Russia using their mob-style tactics here w their little brother Ukraine.
    25 Apr 2014, 05:17 PM Reply Like
  • Puma69
    , contributor
    Comments (160) | Send Message
     
    Expecting to get paid for what you sold is not necessarily mob style.
    26 Apr 2014, 08:19 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs