Ukraine 'Misses' $1.9bn Russian Gas Payment

Russia has reportedly restricted gas supplies to Ukraine after it missed a deadline imposed by Moscow to pay almost half its $4bn (£2.35bn) bill.

State-owned Gazprom said Ukraine's Naftogaz had failed to pay $1.9bn of its debt by its 0600 GMT (0700 BST) deadline and, as a result, the company would have to pay up front for its gas in future.

It also suggested deliveries for June remained uncovered.

Gazprom said: "Today, from 10:00 a.m. Moscow time, Gazprom, according to the existing contract, moved Naftogaz to prepayment for gas supplies.

"Starting today, the Ukrainian company will only get the Russian gas it has paid for," it said.

Major gas pipelines to Europe pass through Ukraine

A source at Gazprom was quoted by the news agency Reuters as saying that it had now "restricted" supplies while the company filed a lawsuit in Stockholm demanding immediate payment of the full amount.

The developments raise the prospect of Gazprom switching off supplies to Ukraine altogether following the failure of EU-sponsored talks in Kiev aimed at reaching a settlement.

The European Commission said it was "convinced" a solution to the bitter dispute was possible, despite Russia threatening to turn off the taps - a move that would deepen the wider crisis over Ukraine's future that has seen East/West relations deteriorate to levels not seen since the Cold War.

Naftogaz boss Andriy Kobolev has failed to agree terms with Russia

It is understood that differences between Russia and Ukraine remain on future prices and on the amounts outstanding.

The EU has proposed a compromise package that would require Ukraine to pay $1bn immediately with the balance settled through six additional payments by the year's end.

Any disruption to supplies - while terrible for Ukraine - risks stoking prices across Europe as countries, including Germany, rely on Russian gas delivered through Ukraine.

Gazprom insisted on Monday there was no threat to wider European supplies as it would honour its contracts.

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