Middle East Economic Survey
VOL. LII
No 9
2-Mar-2009
CASPIAN
Russia-Ukraine Gas Truce Threatened By Naftogaz Cashflow Crisis
Ukraines national oil and gas company Naftogaz Ukraine announced on 24 February that it is being brought to the brink of bankruptcy by major difficulties in collecting up to $563mn of gas bills owed by municipal consumers. The cashflow problem threatens the Russia-Ukraine truce agreed recently to end the freezing of deliveries of Russian gas to Europe via Ukraine, after a...
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