Russia Gas Flows Still Frozen; Ukraine Banks On Mild Weather To Hold Out -- Reuters
(Reuters) - Ukraine signaled it may hold off from paying Russia's billion-dollar gas invoice - part of an EU-brokered agreement to restart supplies frozen since June - in the hope mild weather can help it last out longer as it grapples with near-bankruptcy.
EU officials worked out a deal two weeks ago under which Ukraine would pay Moscow $1.45 billion towards what it owed for gas supplies to ease a standoff over prices - and lift the threat to Europe, which relies on Ukraine as a key transit point for fuel.
But Russia has insisted that Ukraine must also pay for future supplies in advance: $760 million, according to gas export monopoly Gazprom, for the 2 billion cubic meters of gas due to be supplied this month.
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My Comment: Why am I not surprise. The real reason why Ukraine is not paying off Russia is simple .... they have no money, and Europe is reluctant to give them any fearing that it would be used to fund the war in the east and/or be spent elsewhere.
WNU Editor: Here are two sobering articles on the dismal state of the Ukraine economy.
One year into crisis, Ukraine default risks mount -- Marton Eder, Stars and Stripes/Bloomberg News
Ukraine’s economy: Worse to come -- The Economist
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