Arab Today, arab today russia orders crisishit ukraine to prepay for gas
Last Updated : GMT 16:29:33
Arab Today, arab today
Arab Today, arab today

Russia orders crisis-hit Ukraine to pre-pay for gas

Arab Today, arab today

Arab Today, arab today Russia orders crisis-hit Ukraine to pre-pay for gas

Moscow - AFP

Europe faced the prospect of imminent energy shortages Thursday after Russia ordered crisis-hit Ukraine to pay upfront for all its natural gas deliveries because of billions of dollars in debts. The largely-anticipated announcement imperils supplies to a large swathe of the European Union because nearly 15 percent of all Russian gas consumed by the 28-nation bloc transits through Ukraine. The ex-Soviet nation has refused to meet the deadline in protest over Russia's decision to nearly double the price it charges its neighbour for gas imports following the February overthrow of Kiev's Kremlin-backed regime. Russia's energy ministry said Ukraine had missed a Wednesday deadline to pay debts worth $3.5 billion (2.5 billion euros) and that all gas sent from June 1 will have to be paid in advance. "Russia is introducing a pre-payment regime for gas deliveries to Ukraine," Energy Minister Alexander Novak said in a statement. President Vladimir Putin had last month warned in a letter to 18 EU nations that Russia would require Ukraine to make pre-payments unless Europe helped cover its debt to Moscow's government-run natural gas giant Gazprom. "Russia can no longer -- and must not -- be the only one carrying the burden of supporting the Ukrainian economy, offering it discounts for gas and forgiving debts," said Novak. The energy minister said Russia had "through its subsidies been effectively covering the deficit in Ukraine's trade with EU member states". - Ukraine defiant - The danger for the EU is that Ukraine -- its state coffers effectively empty and almost completely reliant on $17 billion in aid over two years promised by the International Monetary Fund -- will not cover its debt and instead start taking the gas Russia had earmarked for its European clients. The nation of 46 million began dipping into supplies meant for Europe when it was cut off from Russian gas during previous price disputes in 2006 and 2009. Ukraine imports roughly half of the gas it consumes every year from Russia. It received nearly 30 billion cubic metres of blue fuel from Gazprom last year. Europe in turn purchased slightly more than 160 billion cubic meters of Russian gas in 2013. Analysts believe that Europe's gas crunch would not be that severe in the short term because an unseasonably warm winter has helped EU nations to stock up on supplies. But EU attempts to help resolve the gas war have so far proven futile and a new round of talks between the three parties has not yet been set for this month. Kiev this week received the first $3.19-billion slice of the IMF aid package and Ukraine's energy minister said that payment could be used to cover the Russian debt. But Energy Minister Yuriy Prodan stressed that Kiev was only willing to settle with Gazprom at its old price of $268.50 per thousand cubic metres rather than the new rate of $485.50. "The price of $268.50 per thousand cubic metres is economically justified and one at which Ukraine is ready to settle(with Gazprom), including by using the first IMF tranche," Ukrainian media quoted Prodan as saying.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia orders crisishit ukraine to prepay for gas Arab Today, arab today russia orders crisishit ukraine to prepay for gas

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today russia orders crisishit ukraine to prepay for gas Arab Today, arab today russia orders crisishit ukraine to prepay for gas

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday