Russia's Gazprom gives Kiev extension into next week in gas dispute
Russia's Gazprom gave Ukraine on Monday an extension into next week to resolve a gas price dispute at the heart of the two countries' confrontation, a day before Moscow was due to switch off the gas unless Kiev paid in advance.
The argument over prices for natural gas has quietly simmered in the background even as the two countries have squared off over Moscow's seizure of Ukraine's Crimea peninsula and over a pro-Russian rebel uprising in eastern Ukraine.
Since a pro-Moscow president was toppled in Ukraine in February, Russia has demanded a sharp increase in the price Ukraine pays for gas. Kiev says it cannot afford it and wants to pay a discounted price which it negotiated in the past.
While the dispute has gone on, Gazprom has continued billing Kiev at the higher rate. It says Ukraine already owes it more than $5 billion in unpaid bills and is running up more debt at a rate of more than $1 billion per month.
http://www.reuters.com/article/2014/06/02/us-ukraine-crisis-gas-idUSKBN0ED0UM20140602
