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Russia Stops Gas Supplies To Ukraine

Ukraine banned Russian airlines Aeroflot, Transaero, S7, Red Wings, Gazpromavia, Rossiya and Ural Airlines.

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Ukraine has 16.5 Bcm (580 Bcf) of gas in storage as of Tuesday, 13% more than on the same day previous year, according to data from Gas Infrastructure Europe.

Russian gas shipments to Ukraine recommenced in October after Gazprom got almost half of a promised $500 million prepayment from Kyiv, the AP says, after Russia lowered the price it charged Ukraine to about $230 per 1,000 cubic meters, about the same level granted to neighboring countries, down from $251.

Speaking on the eve of talks between the French and Russian presidents, French Prime Minster Manuel Valls gave his clearest indication yet the punishing travel and financial restrictions placed on Russia over its role in eastern Ukraine could end.

The head of Russia’s state-run natural gas export monopoly, Gazprom, said it is stopping supplies to Ukraine.

While Novak cited Ukraine’s failure to pay for its gas supplies, it looks as if the real reason may be the escalation of the argument between the countries over the annexation of Crimea.

Russian Federation and Ukraine plan to reach another EU-brokered deal by year-end, which will set prices for the first quarter.

“Refusing to buy Russian gas creates risks for gas transit to Europe and gas supplies for the Ukrainian consumers before this coming winter”, he was quoted by Russian news agency Tass as saying.

A state of emergency was declared there after Russian media reported that two pylons in the Kherson region of Ukraine north of Crimea had been blown up by Ukrainian nationalists, cutting electricity supplies to most of the territory.

Russia is in the process of building a power bridge from the Russian mainland to Crimea to reduce the peninsula’s reliance on obtaining its energy from Ukraine.

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“Russian airlines and Russian aircraft are not entitled to use Ukrainian airspace anymore”, announced Yatsenyuk during a cabinet meeting on Wednesday. Yatsenyuk said that it is an issue of the national security as well as a response to Russia’s aggressive actions.

Gazprom suspends gas deliveries to Ukraine over Kiev non-payment, as chief