Ukraine Bans Russian Airplanes from Airspace

Ukraine has banned all Russian planes from using its airspace and exports of Russian gas to Ukraine have been halted by state-controlled giant Gazprom.

The decision was announced by Ukrainian Prime Minister Arseniy Yatsenyuk at a televised government meeting.

Gazprom said it had halted gas deliveries to Ukraine because it had used up all the gas it had paid for.

But Ukraine said it had stopped buying from Gazprom because it could get cheaper gas from Europe.

The airspace ban applies to military planes as well as civil airliners.
“The Ukrainian government has decided to ban all transit flights for all Russian airlines in Ukraine’s airspace,” said Mr Yatsenyuk.

“The government is instructing [aviation authority] Ukraerorukh, in line with the norms of international law, to inform the Russian Federation that Russian airlines and Russian aircraft do not have the right to use Ukraine’s airspace any longer.”

via BBC

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 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