` Ukraine Suspends Natural Gas Intake from Russia as Result of Gas Hike and said it will Resume at Right Price’

#AceFinanceNews – UKRAINE – April 10 – (Neurope) – Ukraine has suspended natural gas intake from Russia since April 1 as a result of a price hike, the country’s Energy Minister Yury Prodan said Wednesday.

 "We are not pumping Russian gas today, but we still have time to resume the appropriate gas flows," Prodan told a media briefing.

 The suspension came after Russian gas monopoly Gazprom cancelled discounts on natural gas supplies to Ukraine, citing Kiev's non-fulfilment of its debt obligations and "changing circumstances" over Crimea.

 Russia set the price of gas to Ukraine at 485 U.S. dollars per 1,000 cubic meters.

 Prodan said his country is ready to resume gas imports from Gazprom if Moscow returns to the price of 385 dollars.

As of early April, Ukraine’s accumulated debt for gas supplies from Russia topped 2 billion dollars.

 In 2010, Russia and Ukraine signed a gas-for-fleet agreement, with Moscow offering a discount for gas in exchange for extending its lease of the Black Sea Fleet in Crimea for another 25 years.

 The Kremlin said the pact was no longer valid as Crimea joined Russia after a referendum last month. 

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