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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Road Walker who wrote (443565)	12/31/2008 2:44:54 PM
From: tejek	Read Replies (2) \| Respond to of 1573433

This may explain why the DOW dropped suddenly about an hour ago. Gazprom: Russia to cut gas supplies to Ukraine 15 minutes ago (AP:MOSCOW) The CEO of Russia's state gas monopoly Gazprom says Russia will cut off all gas supplies to Ukraine on Thursday morning. Alexei Miller says the decision was made after Wednesday's talks ended with no agreement on how much Ukraine will pay for natural gas shipments in 2009. He also says Gazprom has not yet received the money Ukraine said it transferred to cover its debt. Gazprom says Ukraine owes $2.1 billion. Miller says Gazprom will do its best to make sure European consumers receive their gas on time. Most of the gas Russia supplies to Europe goes through Ukraine. THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below. MOSCOW (AP) _ The chance of a deal to avert a New Year's Day shutoff of Russian gas to Ukraine is waning with talks showing no sign of progress as the midnight deadline approaches. All three Russian news agencies are reporting that the delegation from Ukrainian gas company Naftogaz has been called back to Kiev. The reports cite an unnamed member of the delegation and could not immediately be confirmed. Russia's state gas monopoly, Gazprom, has warned it will cut supplies Thursday if Ukraine fails to pay off all of its debt and sign a deal for next year's deliveries by midnight. The threat raises fears of disruptions in supplies to Europe similar to those that occurred during a similar dispute in January 2006. Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. news.ino.com