Ukraine Stops Russian Gas Payments, Slows Imports

Bloomberg reported today that Ukraine is reacting to natural gas price “aggression” from Russia by rejecting higher costs for the energy source. That could put Europe’s supplies from Russia in jeopardy if the ex-Soviet nation decides to cut off Ukraine completely.

As quoted in the publication:

Ukraine won’t buy gas to pump into underground storage for the heating season or pay for March imports until a price agreement is reached, Energy Minister Yuri Prodan said in Kiev today. Russian President Vladimir Putin told his cabinet today to wait for further talks with Europe and Ukraine before demanding prepayment for supplies to Ukraine, which owes more than $2.2 billion for gas it imported through March.

Click here to read the full Bloomberg article.