Russia extends Ukraine’s gas payment deadline

Russian energy firm Gazprom has given Ukraine an extra week to pay for gas supplies in advance or risk being cut off. The announcement comes after Ukraine made a part […]

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By Priyanka Shrestha

Russian energy firm Gazprom has given Ukraine an extra week to pay for gas supplies in advance or risk being cut off.

The announcement comes after Ukraine made a part payment of $786 million (£469m) for gas received in February and March. Gazprom had previously warned it would cut supplies to Ukraine if it received no advance payment.

Alexey Miller, Gazprom’s Chief Executive said: “We welcome Ukraine starting to pay back its debt and postpone the prepayment regime until 9 June.”

Negotiations between the two sides are expected to resume following the payment although reports claim Ukraine has refused to settle the full amount of $3.5 billion (£2bn) in protest against Gazprom’s recent price rise.

The energy giant is now said to charge Ukraine $485.50 (£290) per 1,000 cubic metres, against the previous price of $268 (£160).