Russia Warns of Gas Supply Disruptions to Europe

Dec. 22, 2008

Dispute over non-payment of debts

Russia is warning of possible disruptions of gas supplies to Europe as a result of the dispute between Gazprom and Ukraine over non-payment of debts, the government said on Dec. 22.

"It is not ruled out that the current position of the Ukrainian side and some of its actions could lead to disruptions in the stability of gas supplies to Europe," First Deputy Prime Minister Viktor Zubkov said.

Gazprom maintains that Ukraine's state gas company Naftogaz owes it up to $2.4 billion and Russian officials have warned of steep price rises or delivery cuts if the outstanding debt is not cleared.

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