FX.co ★ Putin warns EU of possible gas shortages

The Russian gas seems to be a transit passenger these days as its transition is fully dependent on the situation in Ukraine. And if gas has been delivered to every European house with no delays before, now the situation is wary. Thus, regular pipeline transiting is in jeopardy. Worse than that, it may be suspended at all. Political stand-off in Ukraine may badly affect gas supply to the European countries. So, in a letter to 18 European countries President of Russia Vladimir Putin demanded urgent talks with Europe on pulling Ukraine’s economy out of crisis. He also warned his European colleagues of possible disruptions in gas supplies citing tense relations with Kiev and Ukraine’s failure to settle its huge energy bills. However, Putin rejected the idea of advance payment for gas supplies to Ukraine at least until the bilateral meeting is held on this issue. Nevertheless, another problem has emerged – Gazprom believes that accumulation of gas supplies in Ukraine is not sufficient thus increasing the risks of unsanctioned retrieval of gas flowing through the territory of Ukraine to European consumers.