Russia Shuts Off Gas Supplies to Ukraine
Posted on: Sunday, 1 January 2006, 09:00 CST
Russia's state-owned energy company began shutting off natural gas supplies to Ukraine Sunday after the countries failed to agree on a price hike.
Ukraine rejected President Vladimir Putin's last-minute offer to freeze prices for three months, the BBC reported. Ukraine would have had to agree to a price of $230 per 1,000 cubic meters of natural gas, up from $50, once the freeze ended.
Russia's Gazprom -- which currently supplies about 30 percent of Ukraine's natural gas -- says that $230 is the market price. But Ukrainian officials insist that the price hike is motivated by Russia's anger over the Orange Revolution and election of President Viktor Yushchenko.
Russia has promised European countries that there will be no interruption in gas supplies piped through Ukraine.
Source: United Press International
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