Gazprom Demands $1.66 Billion Advanced Payment from Ukraine

Reuters reported today that Russia’s Gazprom (MCX:GAZP) has asked for a $1.66 billion payment from Ukraine in advance of gas deliveries for June. According to Reuters, Gazprom is basing the bill on Ukraine receiving a contractual amount of 3.4 billion cubic meters in total for the month of June.

As quoted in the publication:

Citing a preliminary bill, Moscow pressed ahead with its demand that Ukraine pay for June deliveries early next month, heightening a dispute over price that is pushing the two countries closer to another gas war that could cut supplies. Previous disputes over gas have left Europe, which gets around a third of its gas needs from Russia, with limited supplies at the height of winter, spurring it to look for alternative producers. But so far it has been unable to break its dependence on Moscow.

Click here to read the full Reuters article.