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Russia Turns Off the Gas
In a chilly New Year greeting to its next door neighbor, Russia’s Gazprom will cut off all supplies of heating gas to Ukraine at 7am New Year’s Day. Talks in Moscow on a new contract between the Russian state owned gas giant and its pro-Western neighbor collapsed this afternoon, leaving the prospect of a freezing January for Ukrainians who are dependent on their former Soviet masters for energy. Gazprom blamed the breakdown on “political forces” in Ukraine. And Vladimir Putin, Russia’s prime minister, threatened “very real consequences” if Ukraine intercepted gas piped through its territory from Russia to customers in the European Union.
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What a broad uninformative piece with a sensational bur misleading headline. At issue are the following: the status of the repayment of $2 billion in debt owed to Gazprom for gas deliveries to Ukraine in November and December 2008, as well as fines and penalties; attempts by Naftogaz Ukrainy to amend a separate and pre-existing gas transit contract that is valid through 2010; and Ukraine's apparent unwillingness to move towards fair market prices for gas supplies, despite signed agreements to do so.
Maybe we can get Exxon Mobile to give them Gas for free.
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