Russia Profile: Russo-Ukrainian Gas Tango

Next year promises to be quite a year, but not just for the euro zone's embattled economies. For millions of Ukrainian gas consumers, this may be less of a holly-jolly Christmas season as well. Kiev’s last minute scramble for a breakthrough in its gas price negotiations with Russia was scuttled on Tuesday, in the latest sign that the high gas prices Ukrainians are now paying for Russian gas will hold firm in the New Year.

Gazprom on Tuesday ruled out signing up to new commitments on the supply of natural gas to Ukraine before the New Year, a Ukrainian News Agency reported citing top Gazprom officials. “There will be no New Year's gifts,” Gazprom Chief Executive Alexei Miller was quoted by the agency as saying. Earlier, Gazprom issued a terse statement about Tuesday's meeting between Ukrainian Energy Minister Yury Boiko and the head of Russian gas giant that merely confirmed that “current and future cooperation has been discussed.”   HERE