Ukraine PM Says Russia Plans to Block Nat Gas Flow

Europe faces the increasing threat of a disruption to gas supplies from its main provider Russia this winter due to the crisis in Ukraine, through which almost half of supplies flow.

Ukrainian Prime Minister Arseny Yatseniuk said on Wednesday Kiev knew of Russian plans to halt gas flows this winter to Europe.

“The situation in (Ukraine’s) energy sector is difficult. We know of Russia’s plans to block (gas) transit even to European Union countries this winter, and that’s why their (EU’s) companies were given an order to pump gas into storage in Europe as fully as possible,” he told a government meeting, without disclosing how he knew about the Russian plans.

The warning came less than 24 hours after a meeting between Russian President Vladimir Putin and his Ukrainian counterpart Petro Poroshenko as well as Europe’s main energy diplomat Guenther Oettinger, which included talks to secure Russian gas flows during the peak demand winter.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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