March 6, 2008 By Citizen M

Energy Blast, March 6, 2008

Ukraine and Russia have resolved the dispute that threatened to disrupt natural-gas supplies to European markets, with Naftogaz promising to settle the $600 million debt. The announcement came just “hours after Gazprom warned European customers that Ukraine was getting ready to cut supplies to Europe.” Prime Minister Yulia Timoshenko says Ukraine is not against letting Russia into its domestic gas market. Former Russian power monopoly UES sold its stakes in seven power supply firms for a total of $109.8 million, failing to sell only one firm.