Monday, January 02, 2006

Russia Close to Defeat in Gas Blockade?

Reuters has a story claiming that a "chastised Russia all but abandons gas blockade":
Russia on Monday was forced to all but abandon a gas blockade against neighbouring Ukraine after European trade partners complained that their own supplies were being hit and warned Moscow that relations would suffer.

State-controlled Gazprom said on Monday it would restore full gas supplies to Europe by Tuesday, two days after the gas monopoly cut supplies to Ukraine in a dispute over a steep price hike.

Gas deliveries across Europe, which imports a quarter of its needs from Russia, started to fall dramatically as Moscow reduced exports through a pipeline to Ukraine which continues on to European customers.
The agency notes, however, that
the dispute with Ukraine remains unresolved and Russia will still pump 30 million cubic metres a day of gas less than it did at the end of 2005. That is about six percent of the total Gazprom normally pumps to Ukraine and onward to Europe.
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