FT: Russia hands Ukraine $7bn gas bill
Russia has demanded that Ukraine pay billions of dollars for failing to import an agreed amount of gas, just as Kiev has taken a significant step to break free from its reliance on costly Russian gas imports.
The bill was presented as Ukraine this week signed a landmark deal with Royal Dutch Shell to exploit “unconventional” gas reserves in shale and sandstone that could ultimately involve $10bn-plus in investment, according to a senior official in Kiev.
The Russian demand threatens to cause a third high-profile energy dispute between the former Soviet states after Russia twice cut off gas supplies to Ukraine since 2006 amid squabbles over prices.