Gazprom will only supply Ukraine with gas that has been paid for in advance from the start of June, Moscow said on Thursday, after Kiev missed another deadline to pay its mounting energy debt to the Russian company. Alexander Novak, Russia’s energy minister, said the state-controlled enterprise would move to a system of pre-payment for supplies to Ukraine from next month, bringing the simmering gas dispute between the countries a step closer to crisis. The move to pre-payment raises the prospect of a disruption in gas supplies through Ukraine – a key transit point for about 15 per cent of European gas supplies. Cash-strapped Ukraine, which this week received the first $3.2bn tranche from a $17bn International Monetary Fund bailout , has refused to accept Gazprom’s move in April to increase gas prices from a first quarter rate of $268.50 per thousand cubic metres to $485.50. Oleksandr Todiichuk, deputy […]