Category: Ukraine

Energy company puts shale gas ambitions in Ukraine on hold because of a tough investment climate. UPI/Gary C. Caskey LONDON, Jan. 7 (UPI) — The economic climate in Ukraine is no longer conducive to continue investing in shale natural gas opportunities, producer JKX Oil & Gas said Wednesday. "The board of JKX has decided that the combination of Ukrainian Government-imposed restrictions on selling its gas to industrial clients and the punitive rate of gas production tax requires the company to suspend its planned 2015 capital investment program in Ukraine until the economic parameters for investment improve," it said in a statement. The company in August said new budget measures passed by the Ukrainian government means higher taxes for the oil and gas industry in the country. The most significant, it said, was a move to nearly double the tax on gas production to close to 55 percent. In its […]

Click here to view full article at www.upi.com

ENLARGE In this Oct. 26 file photo, a man walks past a mural on an apartment building depicting Russian President Vladimir Putin in a navy uniform with the Kremlin and a Russian flag in the background in Sevastopol, Crimea. Associated Press MOSCOW—Ukraine cut off electricity as well as train and bus service to Crimea on Friday, moves that could raise tensions with Russia, which annexed the peninsula in March and has been prodding Kiev to negotiate with Moscow-backed rebels in the country’s eastern provinces. The power cutoff is the second this week by Ukraine, which says it has electricity shortages of its own because rebels have halted shipments of coal to its power plants. The halt in train and bus service, however, could indicate Ukraine is stepping up its pressure of the peninsula. In both cases, Ukrainian officials cited safety concerns. Passenger and cargo train service, both foreign and […]

Click here to view full article at www.wsj.com

MINSK, Belarus (AP) — The foreign ministry of Belarus, which has been hosting Ukraine peace talks, says the much-anticipated round of negotiations on Friday has been scrapped. Ministry spokesman Dmitry Mironchik told The Associated Press that the talks broke down but did not give a reason. The opening round was held on Wednesday, one day after Ukraine’s decision to drop its non-aligned status, which added a new element of tension to the attempts to resolve the violent crisis in the country. The talks were to discuss how to improve an often-violated cease-fire that was declared in September, to pull back heavy weapons and to exchange of war prisoners. The negotiators included representatives of Ukraine, Russia, pro-Russian rebels and the Organization for Security and Cooperation in Europe.

Click here to view full article at hosted.ap.org

ENLARGE Lawmakers voted to end the nation’s nonaligned status. Agence France-Presse/Getty Images KIEV, Ukraine—Ending its status as a nonaligned nation, Ukraine rekindled aspirations to join the North Atlantic Treaty Organization, a move that drew a quick rebuke from Moscow. Though largely symbolic, Tuesday’s move highlights the depths of differences between Kiev and Moscow, which has long thought of Ukraine as its satellite and buffer against the West, and has accused the West of bringing hostile forces to its borders. Ukraine had pursued NATO membership when a pro-Western government was elected 10 years ago, but declared itself as nonaligned under the recently ousted pro-Russia president, Viktor Yanukovych, after he was elected in 2010. Ukraine’s chances of joining NATO anytime soon are practically nil, however, as members in Europe especially have little stomach for a confrontation with Russia. On Tuesday, Russian Foreign Minister Sergei Lavrov condemned the move, which he said […]

Click here to view full article at www.wsj.com

A Russian Orthodox priest blesses a SU-27 SM fighter jet at Belbek military airport near Sevastopol Related Stories US President Barack Obama has ordered a ban on the export of goods, technology and services to Crimea. The executive order also imposes new sanctions on Russian and Ukrainian individuals and companies. Mr Obama said the move showed the US would never accept Russia’s annexation of Crimea in March. Similar measures agreed by the European Union earlier this week came into effect on Saturday. Canada announced its own sanction on Crimea on Friday. After the peninsula was annexed, pro-Russian separatists took control of parts of the Donetsk and Luhansk regions of eastern Ukraine in April, and later declared independence. Some 4,700 people have died and another million have been displaced by fighting in recent months. On Friday, five Ukrainian soldiers were killed in fighting – the highest death toll since the […]

Click here to view full article at www.bbc.com

Chevron puts brakes on gas exploration efforts in Ukraine, but says it’s keeping its options open. UPI/Shutterstock/Calin Tatu KIEV, Ukraine, Dec. 16 (UPI) — U.S. energy company Chevron said it was still looking for opportunities in Ukraine, but opted to shelve a contract to tap the country’s shale gas potential. In October, members of a regional council in Ukraine approved a draft production agreement for shale natural gas with Chevron. The deal was formalized in November. Ukraine is one of the Eastern European countries thought to be rich in shale natural gas and the government estimates there may be enough natural gas in shale plays to meet the country’s needs without imports. Peter Clark, country manager for Chevron, told the Kiev Post the company terminated the production agreement because of legislative hurdles in Ukraine. "We have just terminated that PSA (product sharing agreement)," Clark said in comments published Monday. […]

Click here to view full article at www.upi.com

Ukraine still plays a key role in European energy strategies, European official tells Russian state media. UPI/Ivan Vakolenko Europe gets about a quarter of its natural gas supplies from Russia, though most of that runs through the Soviet-era pipeline network in Ukraine. Contractual disputes in 2006 and 2009 between Kiev and gas supplier Gazprom left downstream consumers in Europe in the cold for weeks and recent turmoil in Ukraine has only exacerbated the problem. Beate Raabe, a natural gas director for the European Union, said Ukraine is still a vital part of the energy security chain. "It is important that the businesses continue to cooperate, we cannot change the political climate, as much as we hope the political parties will do their utmost to end the armed conflict in Ukraine and to find a lasting solution to the problem, because that will also help the energy market," she told […]

Click here to view full article at www.upi.com

A short circuit in a generator was responsible for the Nov. 28 shutdown of a… ENLARGE A short circuit in a generator was responsible for the Nov. 28 shutdown of a power unit at the Zaporizka plant, the largest nuclear station in Europe. Reuters Already facing a plunging currency and an armed conflict with pro-Russia militants, Ukrainians were also enduring blackouts this week after a fault knocked out a generator at a nuclear-power station and other plants ran low on coal. Energy Minister Volodymyr Demchyshyn said on Wednesday that he would meet with regional officials to arrange voluntary restrictions on electricity usage and switch some enterprises to nighttime production. Officials blamed the power shortage on repairs of a generator that was damaged Nov. 28 at the Zaporizka nuclear plant, the largest in Europe, as well as low stocks of coal caused by fighting in the main eastern mining region. […]

Click here to view full article at online.wsj.com

Ukraine’s plan to diminish its energy dependence on Russia is adrift in the Bosporus Strait. The nation, which gets half its gas from Russia, wants to build a liquefied natural gas terminal on the Black Sea and held talks with Cheniere Energy Inc. (LNG) to import U.S. cargoes. The only path to the terminal is through Istanbul’s 17-mile waterway. Turkey doesn’t allow LNG shipments through the Bosporus because of safety concerns and congestion. The strait is about half a mile wide at its narrowest point and classified as a maritime chokepoint, among the most difficult to navigate. “If Turkey were to agree to LNG ships transiting the Bosporus to deliver fuel to Ukraine, other states in the Black Sea would also want to invest in their own terminals,” Michelle Berman, the head of shipping and freight research at Business Monitor International in London, wrote in an e-mail Nov. 27. […]

Click here to view full article at www.bloomberg.com

President Vladimir Putin, who took office in the wake of his nation’s 1998 financial crisis, has made economic stability a cornerstone of his nearly 15 years as leader. (AP) MOSCOW — Plummeting oil prices are doing to the Kremlin what sanctions could not: forcing a grim rethinking of Russia’s economic future. Nine months into the worst relations between the West and Russia since the Cold War, the plunging price of oil is causing deeper and swifter pain than the Western sanctions that have targeted key areas of Russia’s economy. Russian leaders said Tuesday for the first time that their economy will head into recession next year. In a nation where oil and gas exports largely determine the bottom line, lawmakers are slashing spending promises. And the ruble is hitting historic lows every day. President Vladimir Putin, who took office in the wake of his nation’s 1998 financial crisis, has […]

Click here to view full article at www.washingtonpost.com

Home | News & Analysis | Latest News Headlines | Ukraine’s Oct transit of Russian natural gas to Europe down 47.5% on year Kiev (Platts)–21Nov2014/845 am EST/1345 GMT Ukraine’s transit of natural gas from Russia to Europe fell by 3.5 billion cubic meters in October to 3.87 billion cu m, down 47.5% from 7.37 Bcm in October 2013, an energy and coal industry ministry official said Friday. Gas transit in October also fell 1% from September, when Ukraine moved 3.91 Bcm of gas from Russia to Europe. In January through October, Ukraine’s transit of gas from Russia to Europe dropped by 15.8 Bcm to 54.1 Bcm, down 22.6% from 69.9 Bcm in the same period a year ago, the official said, citing preliminary figures. Ukraine, the main supplier of gas from Russia, is capable of shipping up to 120 Bcm/year of gas to Europe through its pipelines. Russia supplies […]

Click here to view full article at www.platts.com

NATO’s chief said Russia is sending troops and heavy weapons into Ukraine as President Vladimir Putin heads to a Group of 20 summit in Australia that’s overshadowed by the crisis. “We have observed in the past days that Russia has again brought arms, equipment, artillery, tanks and rockets over the border into Ukraine,” North Atlantic Treaty Organization Secretary General Jens Stoltenberg said in an interview with Germany ’s Bild newspaper. Ukraine is threatened with a return to open warfare, as seen before the Sept. 5 truce that’s being violated on an almost daily basis. More than 4,000 people have died in fighting, according to United Nations estimates. It’s the worst standoff between Russia and its former Cold War foes since the Iron Curtain fell 25 years ago. Waging Financial War “President Putin has clearly broken the truce agreement and has violated Ukraine’s integrity,” Stoltenberg said, according to Bild. Russia, […]

Click here to view full article at www.bloomberg.com

The European Union and the U.S. will weigh further sanctions against Russia ’s economy and Ukrainian separatists, after the reported movement of tanks, artillery and combat troops into eastern Ukraine. Representatives of the EU’s 28 member states and the U.S. are meeting today in Brussels to discuss imposing new penalties on individuals or on the Russian economy for the country’s interference in Ukraine, according to diplomats close to the talks. While no consensus has been reached yet, officials will prepare options for an EU foreign ministers meeting in Brussels on Nov. 17, when the group could move to expand penalties, said the diplomats, who spoke on condition of anonymity because they weren’t authorized to be quoted. “The situation on the ground is very tense,” Ukrainian Foreign Minister Pavlo Klimkin said in an interview with Bloomberg Television today. Asked whether he expects an attack, Klimkin said: “We are of course […]

Click here to view full article at www.bloomberg.com

KIEV, Ukraine — Tanks and other military vehicles towing heavy weapons pouring over the border from Russia into eastern Ukraine . Nightly artillery battles in the region’s biggest city, Donetsk, and reports of fighting around another regional capital. And now, sightings of the “green men,” professional soldiers in green uniforms without insignia, the same type of forces that carried out the invasion of Crimea in the spring. A senior NATO official confirmed on Wednesday what Ukrainian military officials and monitors from the Organization for Security and Cooperation in Europe have been saying for days now: Russian troops and military equipment are crossing the border into Ukraine, seemingly preparing for renewed military action, though what exactly remains unclear. The assertion drew stern and dismissive denials from Moscow, which for months has denied any military intervention in eastern Ukraine, though it has acknowledged publicly that Russian “volunteers” have crossed into Ukraine […]

Click here to view full article at www.nytimes.com

DONETSK Ukraine (Reuters) – East Ukraine’s rebel stronghold Donetsk was pummeled on Sunday by the heaviest shelling in a month, and the OSCE said it spotted an armored column of troops without insignia in rebel territory that Kiev said proved Moscow had sent reinforcements. A two-month-old ceasefire to end a war that has killed 4,000 people has appeared shakier than ever in the past few days, with each side accusing the other of having violated the terms of the peace plan. Reuters journalists inside Donetsk, who have been there throughout the fighting, said the shelling sounded more intense than at any time since early October. Sunday’s strikes appeared to come from territory held by both government and rebel forces. Ukraine’s military said its standoff with the Russian-backed separatists in the east had intensified in the past week, which saw the rebels swear in new leaders after elections the government […]

Click here to view full article at www.reuters.com

Shale license for explorer JKX Oil and Gas extended in Ukraine until the end of 2019. (UPI/Gary C. Caskey) LONDON, Nov. 6 (UPI) — The Ukrainian government extended the terms for a shale exploration license by five years, JKX Oil and Gas announced Thursday. JKX, which has headquarters in London, said its exploration permit for the Zaplavskoye license was extended through December 2019. The reserve basin surrounds four other areas where the company is working to extract reserves locked in shale. Ukraine is one of the Eastern European countries rich in shale natural gas. JKX said its production in Ukraine for 2013 averaged 9,731 barrels of oil equivalent per day, an 18 percent increase from the previous year. By the government’s estimates , there may be enough natural gas in shale reserve areas to meet the country’s needs without imports. Ukraine, with the help of European negotiators, brokered an […]

Click here to view full article at www.upi.com

DONETSK Ukraine (Reuters) – Pro-Russian separatists in eastern Ukraine staged swearing in ceremonies for their leaders on Tuesday after votes dismissed as a farce by Kiev, which says they violated terms of a peace plan to end a war that has killed more than 4,000 people. Warning of the threat of new offensive by Moscow-backed rebels, Ukraine’s leader said newly-formed army units would be sent to defend a string of eastern cities. NATO’s highest ranking officer, a U.S. general, said conditions were now in place to create a "frozen conflict", a term the West uses to describe rebel regions carved out of other ex-Soviet states that Moscow protects with its troops. The inauguration ceremonies in east Ukraine took place even as tens of thousands of people marched in Moscow for "Unity Day", a nationalist holiday celebrating a 17th century battle, revived under President Vladimir Putin to replace the Soviet-era […]

Click here to view full article at www.reuters.com

Download Flash Player now You need to install Flash Player to play this content. President Petro Poroshenko: "The election farce of 2 November jeopardises the peace process" Continue reading the main story Ukraine crisis Chaos and courage Tense time The rebel vote Ones to watch Ukraine’s president is to chair a crisis meeting of security chiefs, after a rebel-held vote that he said jeopardised "the entire peace process". Petro Poroshenko proposed scrapping a law, agreed under the 5 September truce deal, which gives special status to the eastern Donetsk and Luhansk areas. Two pro-Russian leaders were declared the winners of Sunday’s polls. Under the terms of the truce, Ukraine was meant to hold elections in the two regions in December. The West says the rebel-held elections are illegal but Russia is backing them. More than 4,000 people have been killed in fighting in eastern Ukraine since April. Ukraine accuses […]

Click here to view full article at www.bbc.com

Voters arrive at a polling station, guarded by pro-Russian rebels, in Donetsk on Sunday ©AFP Russia moved swiftly to recognise results of controversial elections in Ukraine’s breakaway eastern regions, defying pressure from the west urging Moscow not to undermine fragile peace efforts by giving credence to an “illegitimate” vote. “We respect the will of the people . . . elections in the Donetsk and Lugansk regions were . . . carried out in organised fashion with a high voter turnout,” Russia’s foreign ministry said in a statement on Monday. More On this story Ukraine’s self-declared republics hold elections Gideon Rachman Europe’s bloody borders Zakharchenko stumps for votes in Donetsk In depth Crisis in Ukraine Drinks with Russian soldiers in Lugansk On this topic Russia and Ukraine reach gas deal Editorial Ukraine sets its face towards the west Election marks turning point for Ukraine Polls signal Ukraine’s shift to west IN Europe Tax casts shadow over Dublin’s tech […]

Click here to view full article at www.ft.com

DONETSK, Ukraine — The campaign billboards in this city suggested a tight race between Aleksandr Zakharchenko and Aleksandr Zakharchenko. As voters in rebel-held areas of Ukraine went to the polls on Sunday, in defiance of the central government, the European Union and the United States, the only visible campaign advertising in Donetsk was in support of the current separatist leader, Mr. Zakharchenko, who is, not surprisingly, expected to win. Rather than offering a range of plausible opposition candidates, the voting for members of Parliament and heads of state in Donetsk and the other breakaway region of eastern Ukraine, Luhansk, was significant for highlighting Ukraine’s loss of control over these territories, and Russia ’s strengthening influence. The elections will likely cement the status quo for Luhansk and Donetsk, which have been controlled in large part by pro-Russian separatists since the spring. Russia has said it will recognize the results, while […]

Click here to view full article at www.nytimes.com

European Commission President Jose Manuel Barroso says common sense prevails in interim gas deal brokered between Russia and Ukraine. UPI/Anatoli Zhdanov Negotiators in Brussels landed a deal late Thursday following several rounds of failed talks aimed at resolving a so-called gas war brewing at least since June. "This is an important step for our shared energy security on the European continent," outgoing European Commission President Jose Manuel Barroso said in a statement. "There is now no reason for people in Europe to stay cold this winter." European countries get about 20 percent of their gas from Russia, though most of that runs through a Soviet-era pipeline network in Ukraine. Gas rows between Russia and Ukraine left European consumers without gas in 2006 and 2009. The Ukrainian government under the terms of the deal agrees to pay its $3.1 billion debt in installments. In return, Russian delivers gas under a […]

Click here to view full article at www.upi.com

AP Photo/Geert Vanden Wijngaert MOSCOW (AP) — Russia says gas supplies to Ukraine will resume after it pays off the first debt installment next week. Alexei Miller, the chief of Russia’s state-controlled Gazprom natural gas giant, made the statement Friday hours after Russia, Ukraine and the European Union thrashed out a $4.6 billion deal that will guarantee Russian gas supplies to Ukraine and further on to the EU. The deal eased fears that Europe will end up shivering this winter as occurred during a 2008 gas dispute when Ukraine siphoned gas intended for Europe and Russia turned off the taps in response. Moscow cut off gas supplies to Ukraine in June over unpaid debts, a move that followed the ouster of Ukraine’s Russia-friendly leader and the Kremlin’s annexation of Crimea.

Click here to view full article at hosted.ap.org

©AFP Russia and Ukraine are on the verge of an EU-brokered deal to end a months-long dispute over gas deliveries that would secure supplies to the war-torn country through the upcoming winter. Officials said after all-night talks that broke up at 4am Thursday morning, three separate texts were sent back to Kiev and Moscow – including a new bilateral treaty between the two countries and a commercial agreement between Russian gas monopoly Gazprom and its Ukrainian counterpart Naftogaz – for a final review before signatures are affixed. More On this topic German exports to Russia tumble Fast FT Rouble touches new record low UK blocks €5bn Russian North Sea deal No ‘untouchables’ for Putin, says Pugachev Podcast Russia-Ukraine tensions Neil Buckley, East Europe editor, on the challenges facing Ukraine’s new pro-European parliament EU officials said they believed the deal was all but completed after the most complicated issue – […]

Click here to view full article at www.ft.com

By Vanessa Mock BRUSSELS–Ukraine and Russia are set to resume talks on Thursday to resolve their natural-gas dispute, after late-night negotiations yielded no breakthrough. Ukraine still needs to secure funding to pay upfront for Russian gas deliveries before a deal can be concluded, two people familiar with the situation said. Kiev still needs to raise enough money to pay $1.6 billion in advance for November and December deliveries, according to the terms of a deal agreed on Oct. 21. Talks broke up at around 4 a.m. local time without this issue being resolved, the people said. The talks under way in Brussels, the latest in a months-long series of high-level meetings, come amid fears of possible gas shortages in parts of Europe if the flow from Russia to Ukraine isn’t restored. "We have agreed to continue to work and continue the talks on October 30," Russian Energy Minister, Alexander […]

Click here to view full article at online.wsj.com

BRUSSELS (Reuters) – Ukraine’s efforts to unblock deliveries of Russian gas as winter sets in were deadlocked on Thursday as Moscow’s negotiators were quoted demanding firmer commitments from the European Union to cover Kiev’s pre-payments for energy. EU-hosted talks were adjourned after running late into the night, Energy Minister Alexander Novak and the head of Russian gas firm Gazprom ( GAZP.MM ) told Russian news agencies. They would resume later in the day if Ukraine and the EU had a firm financing deal in place, Gazprom head Alexei Miller said. Ukrainian and EU officials were not available. A spokeswoman for Energy Commissioner Guenther Oettinger issued a statement cancelling a news briefing that had been tentatively set for 8:30 a.m. (0730 GMT) in the event of an agreement. There has already been agreement on the price Kiev will pay for gas over the winter, the amount to be supplied and […]

Click here to view full article at www.reuters.com

KIEV (Reuters) – Ukrainian President Petro Poroshenko hailed a sweeping victory for pro-Europe parties in an election on Sunday, saying the vote showed people backed his plan to end a separatist conflict, his pro-Western course and democratic reforms. Poroshenko’s bloc was fractionally ahead of the party of his ally, Prime Minister Arseny Yatseniuk, with both taking over 21 percent of the votes cast from a field of 29 competing parties, early figures from the vote count showed on Monday. Addressing Ukrainians two hours after polling ended on Sunday night, he thanked voters for backing a "democratic, reformist, pro-Ukrainian and pro-European majority". "The majority of voters were in favour of the political forces that support the president’s peace plan and seek a political solution to the situation in the Donbass," Poroshenko said, referring to the region of the industrialised east where government forces have been fighting separatist rebels. The result […]

Click here to view full article at www.reuters.com

Ukraine’s national gas company Naftogaz is ready to settle its outstanding debts for Russian natural gas imports ifGazprom signs a deal guaranteeing winter supplies.  Russia halted gas supplies to Ukraine in Continue Reading

European Commission President José Manuel Barroso told the bloc’s leaders Thursday that the EU’s executive body could give Ukraine a maximum $1 billion (EUR790 million) in the near term out Continue Reading

Russian and European energy bosses meet in Brussels to discuss Ukrainian gas crisis. (File/UPI/Ivan Vakolenko) Russian Energy Minister Alexander Novak met one-on-one with European Energy Commissioner Gunther Oettinger ahead of three-way talks that include Ukrainian delegates. Novak said earlier Tuesday he expected the meeting would result in a written agreement on the way to settle the long-standing issue. An already-fragile Ukrainian economy was left in further turmoil following the political upheaval that followed Kiev’s tilt toward the European Union in November. Russia meets about a quarter of European gas needs, though the bulk of that gas runs through a Ukrainian pipeline network. Last week, Oettinger said EU member states could stave off winter gas shortages . "No household in the EU has to be left out in the cold this winter," he said. Gazprom said Monday it filled European underground gas storage facilities with about 80 percent of the […]

Click here to view full article at www.upi.com

Russia and Ukraine dashed expectations that they would end their long-running gas dispute on Tuesday, with Kiev’s inability to pay for its gas debts to Moscow emerging as the main Continue Reading

Breaking point: Ukraine has had to import gas from its neighbours since Russia cut off its supply ©Yuriy Dyachyshyn/AFP Russia has raised further conditions for resuming gas supplies to Ukraine, dashing hopes that a deal to safeguard Europe’s energy supply this winter would be agreed on Tuesday. Moscow cut gas exports to Ukraine in June amid a payment dispute, and talks on restarting flows have been weighed down by the conflict between Kiev’s forces and pro-Russian militias. However, many officials had expected that a new deal on a gas price and a timetable for settling debts would be reached at a meeting in Brussels. More On this story Editorial Europe needs will to build energy union Energy spat tests EU resolve Moscow and Kiev talks end in an impasse UK blocks €5bn Russian North Sea deal On this topic Kremlin acts to silence human rights group Editorial Putin is […]

Click here to view full article at www.ft.com

A Ukrainian serviceman aims a mortar in the village Peski near town of Donetsk,… Read More Photographer: Aleksey Chernyshev/AFP via Getty Images Talks aimed at ensuring Russian natural gas deliveries to Ukraine this winter are being held with the European Union in Brussels today as fighting continues in Ukraine’s war-torn east in defiance of a six week-old truce. EU Energy Commissioner Guenther Oettinger , Russian Energy Minister Alexander Novak and his Ukrainian counterpart Yuri Prodan are attending the talks that are supposed to end at 2 p.m. yet may take longer than planned, officials said. The standoff between the two former Soviet republics is coming to a head four months after Russia halted gas shipments over a pricing and debt dispute as a separatist insurrection raged in eastern Ukraine. The EU, which depends on Russian fuel piped across Ukraine for about 15 percent of its needs, has been seeking […]

Click here to view full article at www.bloomberg.com

EU schedules another round of gas talks after Russian President Vladimir Putin sees signs of a breakthrough. UPI/Stephen Shaver "The next trilateral gas meeting between Commission Vice-President Gunther Oettinger , Russian Energy Minister Alexander Novak and Ukrainian Energy Minister Yuri Prodan will take place on Tuesday in Brussels," the commission said in a statement . Multilateral meetings in Milan last week were aimed at resolving a geopolitical crisis in Ukraine that spilled over into the regional energy sector. Ukraine’s political upheaval in November left an already battered economy short on cash and the billions of dollars Kiev owes to Russian energy company Gazprom leaves downstream European consumers at risk . Russian President Vladimir Putin said progress had been made during the latest round of talks. While gas supplies were ensured for the short-term, the president said the cash situation in Kiev was another story. "We are aware of the […]

Click here to view full article at www.upi.com

Russia and Ukraine have reached a preliminary agreement on a price for winter gas supplies, officials from both countries said, moving closer to a deal that would ease concerns that Continue Reading

MILAN (Reuters) – Russian President Vladimir Putin and Ukrainian leader Petro Poroshenko met an array of EU leaders on Friday, but there was little sign of progress in patching up a ceasefire in eastern Ukraine and resolving a dispute over natural gas supplies. Putin held more than 2-1/2 hours of talks with German Chancellor Angela Merkel overnight. The Kremlin said afterwards the pair were still at odds over how to resolve a crisis that has revived the specter of old Cold War rivalries. "The two leaders continued to express serious differences in views on the source of Ukraine’s domestic conflict, as well as root causes for what is happening there today," the Kremlin said in a statement. The West has imposed sanctions on Russia for its annexation of Crimea earlier this year and its support of pro-Russian separatists fighting in the east of Ukraine. European leaders in Milan for […]

Click here to view full article at www.reuters.com

Europe examining risks of a gas shortage stemming from geopolitical crises in Ukraine. (File/UPI/Ivan Vakolenko) BRUSSELS, Oct. 17 (UPI) — If members of the European Union show some solidarity, they’ll be able to cope with a potential Russian gas shortage, the European energy commissioner said. The European Commission unveiled a report Friday highlighting the short-term recommendations needed to stave off a possible winter gas shortage. "For the very first time, we have a complete picture of the risks and possible solutions," Energy Commissioner Gunther Oettinger said in a statement. "If we work together, show solidarity and implement the recommendations of this report, no household in the EU has to be left out in the cold this winter." Multilateral meetings in Milan are aimed at resolving a geopolitical crisis in Ukraine that spills over into the regional energy sector. Ukraine’s political upheaval in November left an already battered economy short […]

Click here to view full article at www.upi.com

Vladimir Putin (left) with Matteo Renzi (centre) and Petro Poroshenko (right) at the summit in Milan on Friday ©AFP Vladimir Putin and Petro Poroshenko, the Russian and Ukrainian presidents, failed to reach a breakthrough to end the crisis in Ukraine , after a day of intense negotiations brokered by EU leaders in Milan. Mr Putin and Mr Poroshenko discussed a number of thorny issues, from allowing drones to monitor the border between the two countries to the structure of local elections in the pro-Russian separatist region of eastern Ukraine . They pledged to enforce a truce agreed last month that has since been frequently breached. More On this story Putin’s meeting with old pal dims focus on Ukraine Russia takes EU to court over sanctions Hungary questions EU sanctions on Russia UK blocks €5bn Russian North Sea deal On this topic Moscow battles to ease dollar shortage EU rebuffs […]

Click here to view full article at www.ft.com

An elderly man walks near snow covered cars during a heavy storm in the Ukraine capital Kiev on March 23, 2013. Kiev administration declared a state of emergency in the city. AFP PHOTO/SERGEI SUPINSKY (Photo credit should read SERGEI SUPINSKY/AFP/Getty Images) ©AFP At the Foxtrot appliance store in Kiev, the must-have product these days is a Delonghi electric heater. “This is the last one left of 20 delivered to our store just a day ago,” Oleksander, a sales clerk, said, pointing to one of the Italian-made devices and noting that sales have increased fivefold from a year ago. More On this story Russia’s defence budget hit by slowdown Energy Can Europe wean itself off Russian gas? Risto Penttila Sanctions hurt everyone Drones plan to monitor Ukraine ceasefire On this topic Hungary halts flow of gas to Ukraine Spain’s EC nominee sells oil holdings Ukraine gas deadlock poses threat to […]

Click here to view full article at www.ft.com

Ukraine ready to settle some of its gas debt obligations, Russia says. (UPI Photo/Sergey Starostenko) MOSCOW, Oct. 13 (UPI) — Kiev is ready to settle a little less than half of its gas debt obligations to Russian energy company Gazprom by year’s end, the Kremlin said Monday. Russian Energy Minister Alexander Novak said Ukraine was ready to pay $1.45 billion of the $3.1 billion owed by the end of the year. The rest of the debt would be settled by March 2015. Novak said the repayment was among the conditions for new gas deliveries to Ukraine. Gazprom this year disrupted gas supplies to Ukraine because of lingering debt issues. Similar rows in 2006 and 2009 left downstream consumers in Europe in the cold for weeks as most of the Russian gas bound for western markets runs through the Soviet-era pipeline network in Ukraine. European, Russian and Ukrainian leaders are […]

Click here to view full article at www.upi.com

DONETSK, Ukraine — Russian and Ukrainian officials on Sunday continued a series of measured steps aimed at decreasing tensions before the countries’ presidents meet this week to discuss the six-month conflict in Ukraine ’s east. Despite the continuing fighting over disputed territories, President Petro O. Poroshenko of Ukraine said he believed that a full cease-fire could soon be achieved under a peace plan that he and Russia ’s president, Vladimir V. Putin , had endorsed. On Sunday, Russian news agencies reported that Mr. Putin had ordered troops deployed on the Ukrainian border to return to their bases. It was the second time this year that Mr. Putin had announced that military exercises along the Ukrainian border had been completed and that 17,600 soldiers would be withdrawn to their usual bases. Mr. Putin ordered the pullback from the Rostov region, which borders Ukraine, in a meeting with his defense minister, […]

Click here to view full article at www.nytimes.com

Ukrainian official worried about prospects for gas shortages during the upcoming winter. UPI/Ivan Vakolenko Ukraine needs to secure a reliable natural gas partner as shortages are expected during the upcoming winter, a Cabinet official said. The U.N. High Commissioner for Human Rights this week said energy security issues in Ukraine may take on a humanitarian tone as residents there fear there could be a natural gas shortage this winter. Cabinet Minist Ostap Semerak told Ukrainian news agency Glavkom some of those fears may come to fruition . "We will have a gas shortage … for the upcoming winter," he said in an interview published Thursday. "We must find this gas in order to survive the winter [and] to ensure the effective work of the economy." The World Bank this week said lingering tensions in Ukraine were taking their toll on the nation’s economy, though many of the problems stem […]

Click here to view full article at www.upi.com

Ukraine reported intensified shelling in its war-ravaged east as German said the terms of a month-old truce aren’t being met. The government reported one death among its forces the past day, saying pro-Russian insurgents fired artillery rounds at the military on 33 occasions. While the cease-fire “isn’t flawless,” the tendency in Ukraine is “unambiguously positive,” Russian Foreign Minister Sergei Lavrov said. The rebels yesterday described the truce as all but dead. “It’s obvious that the Minsk agreement isn’t implemented yet,” Merkel said today after talks with Polish Prime Minister Ewa Kopacz in Berlin. Drones could be used to monitor the truce, “but the condition for everything is that the cease-fire really holds. You can see how fragile the situation is right now.” While the truce, sealed Sept. 5, has reduced the bloodshed in Ukraine’s easternmost regions, it’s been marred by daily violence. There have been at least 331 deaths […]

Click here to view full article at www.bloomberg.com