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.”
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.