Ukraine Misses Gazprom Debt Deadline

Ukraine has not paid off any of its debt to Gazprom despite a deadline for the nation to start reducing its debt by midnight (Moscow time) on Monday.

A Gazprom spokesperson told Reuters: “There have been zero payments from Ukraine.”

Ukraine owes Gazprom $2.2bn (£1.3bn) for supplies of natural gas.

Gazprom did not say what action it would take if Ukraine failed to pay. The nation has missed previous deadlines without punishment.

However, in recent years disputes over the price of gas have seen Gazprom cut off supplies to Ukraine.

That happened during the winters of 2005 and 2008.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza