Gazprom Threatens Government With Withdrawal Of Gas Discounts

News: Russian oil and gas producer Gazprom has told the Ukrainian government to expect a withdrawal of natural gas discounts to the country if the government fails to pay the US$1.55bn owed for fuel. The move is widely being seen as a political manoeuvre to pressure the new pro-EU regime using Gazprom's energy dominance over the embattled country because the interim government can little afford to pay the company its dues. President Vladimir Putin has exerted influence over Russia's western neighbour using Gazprom's monopoly by cutting off supplies twice since 2006 (Bloomberg).

This article is tagged to:
Sector: Country Risk, Oil & Gas
Geography: Ukraine, Russia

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