RT: Russia-Ukraine gas war: Europe wonders what’s in store
Russia has again extended the deadline before Kiev starts using a prepayment system, but if Ukraine doesn’t pay its gas debt by June 16, Moscow could pinch the energy vein that provides for a third of the total gas needs in Europe.
Russia has turned off gas supplies through Ukraine twice, in the winters of 2006 and 2009, after Kiev was late paying. Halting natural gas supplies not only hurt Ukraine, but also squeezed European neighbors, as prices shot up and millions of European homes were left without heat. Both periods lasted about three weeks.
Kiev and Moscow are still negotiating on a gas price, which Russian President Vladimir Putin announced on Wednesday could be lowered to $385 per 1,000 cubic meters. Kiev hasn’t formally accepted this offer, insisting it was "biased" and "political".