‘They don’t want to pay’ – Putin on Ukraine gas row: comments

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With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

Budget gets revised for worst case scenario Declining oil prices and a sharp slowdown in the global economy have prompted the Russian government to review the 2009 state budget. The Finance Ministry expects a sharp decline in economic growth.

New Volvo truck plant opens as sector braces for tough year Sweden’s Volvo Trucks has launched its assembly plant in what's know as Russia’s Detroit – the Kaluga Region. Analysts say the timing of project is both good and bad.

Agreement ends gas dispute as clouds loom over Ukraines economy The Gazprom Naftogaz conflict is over with Moscow charging Ukraine a market price for its gas in 2010 and granting a 20% discount this year. In turn, Kiev won’t increase transit fees in 2009.

Oleg Deripaska returns to the driver`s seat at Rusal Billionaire majority shareholder of Rusal, Oleg Deripaska, the world largest aluminium maker, will return to the CEO position after being re-elected by the company board.

Automakers start up for new year in low gear Russia automakers Kamaz and GAZ resume operations on Monday after a break for the New Year. The vehicle makers will now be running on reduced working weeks, as orders from industry collapse in the face of recession.

Gas dispute over. Or is it? Energy experts have warned the gas dispute may not be over, despite Premiers Putin and Timoshenko agreeing a supply and transit price at the weekend. Even if the Ukrainian agrees to terms, there are doubts it can pay.

Ukraine can transit gas - Gazprom Gazprom has published a letter from Ukraine's Naftogaz admitting it can transit gas to the EU. Tens of thousands of European families have entered their third day without central heating.

Rouble weakens again Russia's Central Bank again widened the rouble's trading band against the bi-currency basket on Thursday. This time it was by 50 kopecks instead of 30 – which has increased the pace of devaluation.

Taking sides with pipelines The aggressive political rhetoric stating that Russia uses gas as a ‘geopolitical weapon’ is very popular in the West. Though the facts contradict it.

Leaders to meet on gas impasse The Prime Ministers of Russia and Ukraine have agreed to meet this Saturday, in an effort to find a solution to the on-going gas transit dispute.

Aleksandr Lebedev bids for controlling stake in London Evening Standard Russian businessman Aleksandr Lebedev may acquire 75%+1 share in British newspaper the London Evening Standard.

Gazprom looking to barter gas supplies through to Balkans Gazprom has made a last-ditch attempt to bring gas to thousands of European homes without heating. With Ukraine refusing to transit Russian gas, Moscow has proposed a new deal, involving the European Union.

Cost of gas dispute mounts for Gazprom, as customers look for other supplies The shape of the European gas market could forever be changed in the aftermath of the gas dispute between Russia and Ukraine. The dispute has already cost Gazprom as much as $1.1 Billion already in export earnings.

Gas imbroglio deepens as Ukraine calls for gas ‘loan’ Naftogaz of Ukraine has asked Gazprom for a loan of technical gas to power its pumping stations, claiming it needs the fuel to maintain pressure in its pipelines.

Ukraine actions move into gas dispute spotlight Gazprom says it now has proof that Ukraine is stealing Russian gas bound for families in Europe. The deputy head of Gazprom told Business RT Ukraine won't pay for its own gas, because it's on “the brink of...

Russian oil producers batten down the hatches on crude outlook After reaching record-level highs in 2008 – up to $147 a barrel – the price of oil is now down under $40. Russian production has fallen, too – for first time in decade, with further...

Gas dispute damages Russia's reputation How is the current gas dispute going to impact on Russia's reputation as a reliable energy supplier? Vladimir Ismailov from the Association of European Businesses in Russia shares his opinion.

Europe to warm up as gas goes back on Tens of thousands of European families without heating, have received a boost after Gazprom pledged to resume deliveries. Russia's energy giant gave the go-ahead after the European Union got tough on Ukraine.

Rouble eases further, with prospect of more to come The Russian Rouble fell to its lowest level in six years against the dollar after the central bank devalued the currency for a second day. The government seems set to continue its policy of a controlled devaluation.

Russian President says no to Ukraine agreement amendments Russian President, Dmitry Medvedev, has ordered the federal government not to fulfill the gas transit protocol until Ukraine drops certain clauses to the document which have not been agreed with Moscow.

Gas dispute casts shadow over Europes energy future Russia insists Ukraine should pay market price for its supplies in 2009. Even if the two sides settle their differences, the conflict is likely to leave Gazprom and the European Union with a sense of insecurity.

Markets open in Moscow after long holiday After a ten-day holiday, Russian markets have opened with solid gains including a rise in Gazprom. It's the first day of trading since the markets closed for the New Year holidays.

Gas crisis focuses minds on new routes As Europe waits for gas supplies to resume, support is growing among leaders to find alternative transit routes. Gazprom says it’s ready to accelerate the construction of proposed Nord and South Stream pipelines.

Ukraine gas dispute moves into post cutoff stage Naftogas of Ukraine and Gazprom have moved to contingency plans after supplies to Ukraine were shut off following the failure to reach an agreement on a 2009 contract.

Tour operators look to weather slowdown With the rouble's exchange rate rapidly falling, tourism may soon become a luxury for many Russians. The depreciating currency and slowing demand are set to bring about change in the country’s tour operator industry.

Gazprom and Naftogas of Ukraine take talks to 11th hour Talks are continuing on Ukraines payment issues with Gazprom, as the Russian company says it is serious about cutting off supplies if it isnt paid for outstanding debts, and there is no contract for the coming year.

Gazprom posts 83% Net Profit jump for 1H 2008 Russian gas producer and exporter, Gazprom, has posted a 1H 2008 Net Profit of 609.3 Billion Roubles ($20.61 Billion) under IFRS.

Russian women take up the business reins Experts are looking to smaller businesses to play a greater role in Russia’s economy. A record number are owned by women, who are finding that being a successful entrepreneur doesn't mean sacrificing family life.

Russian banks brace for torrid year ahead Rouble devaluation, along with inflation, are the biggest challenges for Russia’s banks in 2009 according to expert. They are expecting massive consolidation in the sector and say banks must reduce costs.

Oil price collapse wreaks havoc on forecasts and budgeting The global economic slowdown which unfolded in the second half of 2008, hit Russia hardest through the collapse in oil prices. They have made a mockery of earlier predictions and undermined the Russian economy.

‘They don’t want to pay’ – Putin on Ukraine gas row: comments

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