Gazprom: Ukraine fails to pay its April gas bill. --This comes as Ukraine receives the first tranche of $3 billion from the IMF.

Gazprom says Kiev has failed to pay its mounting gas bill, which now has hit $3.5 billion. This means that in June Ukraine might receive Russian gas only on the condition of advanced payment.
"The deadline has passed, no payment has been received," said Sergey Kupriyanov, the company's representative. Earlier the company said that if the deadline was not met, Gazprom would issue an advance bill for June gas supplies on May 16.

Naftogaz, Ukraine’ state-owned oil and gas company, has a long record of late payments and unpaid bills to Gazprom, a problem which has only gotten worse as Ukraine has slipped into revolution and civil unrest.
The debt as of May 7, 2014 stands at $3.508 billion, Gazprom said Wednesday, which is up from $2.2 at the end of April. The sum is contested by Ukraine. Moscow, Kiev and the European Commission plan to hold a new round of talks to negotiate the debt; its date will be discussed on May 12, Russia's Energy Ministry says.
This comes as Ukraine receives the first tranche of $3 billion from the IMF. Out of that sum, Naftogaz may be eligible to use up to $2.16 billion to pay off its massive debts to Gazprom, according to documents prepared by the fund. If the money isn't used to pay to Gazprom, Russia's gas company has the right to ask for advanced payments.............http://rt.com/business/157304-gazprom-ukraine-gas-deadline/
7/5/13
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