Russia will cut gas supplies to Ukraine because Kiev has not paid off its $1,95 billion debt by 10am Moscow time today (8am GMT). This was stated by Gazprom spokesman Serghei Kupryanov, reporting that the latest round of negotiations between the EU-Russia and the Ukrainians on the debt repayment plan and on the price of gas ended yesterday evening, without any agreement between the parties.
"We have not reached an agreement and it is unlikely that we will meet again," the spokesman said. After two postponements already, Gazprom's ultimatum has therefore expired today to obtain from Kiev the partial balance of the account of the deliveries already supplied to Ukraine, which had to settle a 1,95 billion dollar bill, in order not to be forced to pay for supplies in advance and, if not, have the taps turned off.
No direct penalty is envisaged instead against the EU, which however could see its supply of raw materials indirectly reduced, since Russia's very probable move would entail cutting 15% of Russian gas directed to Europe which passes precisely through Ukraine.
