facebook
twitter
rss
account
search
search
 

Russia to Ukraine: pay $3.51 billion gas bill by June 3

Gazprom set a June 3 deadline for payment.
By Ed Adamczyk   |   May 12, 2014 at 3:06 PM   |   Comments

| License Photo
MOSCOW , May 12 (UPI) -- Russian energy company Gazprom has demanded Ukraine pay $3.51 billion in advance for gas supplies, or risk having shipments halted.

It said shipments of gas may be halted if payment for June deliveries does not arrive by the deadline. Gazprom chief Alexei Miller noted the decision and the deadline were because of outstanding debt on Ukraine's part. Otherwise, "Ukraine will receive zero cubic meters (of gas) in June," the Russian news agency Interfax reported.

Prime Minister Dmitry Medvedev recently said on Russian television it could no longer be a "nanny" for Ukraine.

Miller added Ukraine could dip into an International Monetary Fund aid package of $17 billion to make the payment. "According to our information, Ukraine has received money from the first IMF tranche (transfer)," he said.

Ukraine has refused to pay its obligations as a protest of Gazprom's near-doubling of the price of natural gas. Ukrainian Finance Minister Oleksandr Shlapak said Monday his country was willing to pay its creditor as soon as Russia lowers the price.

Gazprom currently charges Ukraine $485.50 per 1,000 cubic meters of gas, the highest rate of any of its customers in Europe.

Follow @adamczyk_ed and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Most Popular
1
Father of five children thought they would kill him, feed him to dogs Father of five children thought they would kill him, feed him to dogs
2
New video shows missing UVA student the morning she disappeared New video shows missing UVA student the morning she disappeared
3
Norways Kongsberg to demo missile for U.S. Navy Norways Kongsberg to demo missile for U.S. Navy
4
Peshmerga forces kill senior Islamic State commander Peshmerga forces kill senior Islamic State commander
5
Playboy Magazine names UPenn top party school for 2014 Playboy Magazine names UPenn top party school for 2014
Trending News
Video
x
Feedback