Ukraine, Feeling Winter Chill, Pays $378 Million For Russian Gas -- Reuters
(Reuters) - With freezing temperatures gripping Kiev, Ukraine's state energy firm Naftogaz said on Friday it had transferred $378 million to Russia's Gazprom to buy Russian gas for December, paving the way for the first shipments since Moscow cut supplies in June.
Flows to Ukraine from Russia were severed in a dispute over prices and debts. In line with a deal signed by Naftogaz and Gazprom in October, they should resume within 48 hours from when the Russian firm receives the transfer.
Cash-strapped Kiev had delayed buying new supplies, but increasingly cold weather has forced it to draw down on severely depleted reserves.
Read more ....
More News On Ukraine Paying Russia For The Resumption Of Natural Gas Shipments
Ukraine Pays Gazprom $378 Million to Resume Gas Shipment -- Bloomberg Businessweek
Debt-ridden Ukraine buys 1 bcm of Russian gas as winter gains force -- RT
Ukraine’s Naftogaz says it has transferred $378 mln in advance payment for Russian gas -- ITAR-TASS
Ukraine Pays Russia For Future Gas -- Radio Free Europe
My Comment: Winter is now settling in .... and as temperatures plunge ..... Ukraine has no choice but to pay up. What is also becoming a serious problem are rolling blackouts due to shortages of coal .... Coal crunch forces Ukraine to seek Russian power supplies (AFP) .... this has the potential to become a serious problem next month when power consumption is at its maximum due to the cold of winter.
Update: Ukraine's economic problems to build up .... Ukraine Prepares for Truce With Rebels as Economic Woes Deepen (Bloomberg). Everyone that I know in Ukraine .... family, friends, associates, etc .... they are all telling me the same thing .... there are now in panic mode as they see inflation and unemployment climbing uncontrollably, while government services and assistance becoming non-existent.
Update #2: I am not surprised .... Ukraine power company boss detained over botched coal deal (Reuters).
Update #3: Apparently Russia can force Ukraine into default at the end of this month .... Putin Bailout Haunts Ukraine With Early Repayment Clause (Bloomberg Businessweek).
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