Russian Energy Minister: No Gas For Ukraine If It Fails To Pay $1.65 Billion Debt In A Week

Russia Energy Minister Alexander Novak
Russia’s Energy Minister Alexander Novak

Russian warning: No gas for Ukraine if it fails to pay $1.65bn debt in a week (RT, Dec 23, 2014):

Energy Minister Aleksandr Novak has threatened Russia may turn off the taps if Kiev doesn’t repay the remaining $1.65 billion of its gas debt by the end of December.

The warning comes less than a month after Russia resumed supplying Ukraine with gas.

Kiev had to pay $378 million in advance for December deliveries.

The prepayment regime introduced for Ukraine was just one part of the so–called ‘winter plan’ between Russia and Ukraine. The other critical term is that Kiev needs to repay the remainder of its multibillion dollar gas debt by the year end.

In early November Kiev paid $1.45 billion of its gas debt, leaving $1.65 billion due.

Prime Minister Dmitry Medvedev said a couple of weeks ago Russia would take Ukraine to court if it doesn’t settle the gas debt.

However, Novak added that Russia was ready to allow Ukraine another discount after the ‘winter gas plan’ expires in March.

Currently, Russia sells gas to Ukraine with a $100 discount at $378 per 1,000 cubic meters.

1 thought on “Russian Energy Minister: No Gas For Ukraine If It Fails To Pay $1.65 Billion Debt In A Week

  1. I am really confused. The Ukraine has been part of Russia for years, why now is the Russian energy minister making threats to cut off their gas? Surely, they don’t want the US interests in the Ukraine to win…………………..I don’t understand what is going on there and cannot trust the US media.

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