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Russia controls the natural gas but Ukraine has the bill. US$3.5 billion is owed to Russian energy giant Gazprom. Russia is squeezing Ukraine. It has ended gas price subsidies, is demanding up-front payment, and has threatened to cut gas supplies if bills are not paid. But Ukraine’s economy is already in crisis. The IMF has stepped in – but it has been warned that...
Professor Stefan Hedlund
Russia is playing hardball with its long-term contracts on gas prices. It is using them as a political weapon to control its neighbours, says GIS expert Dr Frank Umbach. In this special report he points out the major strategic implications for the EU's overall energy and climate change policies.
A RENEWED conflict has blo...
Dr. Frank Umbach