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Russia to hike price on gas supplies to Ukraine

Tuesday - 3/4/2014, 10:58am  ET

MOSCOW (AP) -- Russia's state-controlled natural gas giant Gazprom says it will cancel a price discount for natural gas supplies to Ukraine.

Gazprom chief Alexei Miller said Tuesday in televised remarks that Ukraine has accumulated a $1.5-billion debt for Russian gas supplies. He added at a meeting with Russian Prime Minister Dmitry Medvedev that Gazprom will cancel a price rebate for Ukraine starting April 1.

Russia offered the discounted price and a $15-billion bailout to Ukraine in December following President Viktor Yanukovych's decision to ditch a pact with the European Union in favor of closer ties with Russia.


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