Gazprom warns Ukraine on debt June 12, 2014 Russian natural gas exporter Gazprom warned yesterday that it would cut off supplies to Ukraine on Monday if it failed to pay off part of its gas debts, raising fears of disruptions in gas flows to Europe. Chief executive Alexei Miller said that if Ukraine failed to pay $1.95bn (£1.16bn) of its $4bn debt to [...]
Fifa sponsors celebrate Sepp Blatter resignation: Coca-Cola, Visa, McDonald’s, Budweiser, Adidas and Hyundai all welcome move June 3, 2015 Fifa's sponsors have breathed a sigh of relief following Sepp Blatter's surprise decision to resign as president. Blatter's stepping down follows a week of scandal for football's under-fire governing body after a number of top officials were arrested on charges of racketeering, wire fraud and money laundering. Read more: UK directors tell Fifa backers to speak [...]
EU takes a stand against high Russian import taxes at the World Trade Organisation February 26, 2015 The European Union (EU) is upping its battle against high import taxes imposed on it by Russia. On Thursday, the bloc posted a request for the World Trade Organisation (WTO) to establish a dispute settlement panel over the matter, accusing the Kremlin of placing unreasonably high import duties on a wide range of products. [...]
Gazprom and the EU agree “mutually beneficial relations” April 2, 2014 The chief executive of Russian state-controlled gas producer Gazprom has agreed with the EU that they have a shared interest in maintaining “mutually beneficial relations”. The giant supplier announced in a statement that boss Alexei Miller met with Guenther Oettinger, European energy commissioner, and discussed a "wide range of issues of bilateral cooperations". The news [...]
EU brokers Russia, Ukraine gas deal after months of negotiation October 30, 2014 Russia has agreed to resume supplies of natural gas supplies to Ukraine until March 2015 following months of negotiations brokered by the European Union. The deal will also include EU funds to assist Ukraine in paying off its debts to Russian energy giant Gazprom so gas will be delivered to the war-torn country in time [...]
Gazprom cancels discount on gas supply for Ukraine March 4, 2014 RUSSIAN-state owned utility Gazprom will strip Ukraine of its discount for gas prices from April, it said yesterday, as chief executive Alexey Miller claimed the country owes debts of $1.529bn (£920m) to his company. Gazprom says it has not received payments for gas sent in January, adding to huge debts accumulated debt over the past [...]
Putin defends Gazprom price hikes on Ukraine March 4, 2014 Russian President Vladimir Putin has defended a planned price rises for Ukraine by state-owned Russian energy giant Gazprom. Speaking to a press conference President Putin said: They failed to pay off the debt, I think it's $1.5bn as of today, and if they don't pay for February it's going to be $2bn. So if you [...]
Russia cutting gas supply to Poland by 20pc September 10, 2014 POLAND and Germany yesterday announced that Russia had cut their gas supply, with Warsaw saying it was down 20 per cent. Some European officials believe Moscow could use gas supply disruptions as its trump card in a confrontation over Ukraine that has already brought ties between Moscow and the west to their lowest since the [...]
Rocky market could prompt oil mega-mergers as price fall forces drastic decisions February 3, 2015 After six months of falling oil prices, analysts have pointed to a possible mega-merger between the majors. Chances of a shock deal have been heightened by firms slashing their spending in the face of oil prices that are expected to remain low for at least the next six months and possibly the next three years. [...]
Who have the US and EU put on their Russian sanctions hit lists (and why)? September 12, 2014 Further sanctions against Russia came in today, and it's safe to say that if you are in President Putin's inner circle you've probably been affected. A number of companies – including Gazprom – have also been targeted by the punitive measures for the first time. Here is our round up of who the [...]