First some back ground from the BBC….

Gazprom cut off Ukraine’s gas supply on Thursday in a row over payment.

The firm has since accused Ukraine of stealing gas, however Ukraine’s state energy firm said Russia was not sending enough gas to ensure the EU supplies.

Ukraine’s state gas company, Naftogaz, denied illegally siphoning Russian gas, saying it was ensuring the export supply.

Now note the following stories….

Poland sees gas deliveries from Ukraine drop.

Hungary says gas pressure from Ukraine drops.

Russian gas exports to Romania fall by 30-40 pct

Who knows where the truth lies, but it is hard to believe that the Ukraine would let natural gas transit a crossed its country while its own citizens were cut off. On the other hand Ukraine had higher stocks this time around, so it is possible that Russia cut supplies just to make it look like Ukraine was stealing.

This entry was posted on Friday, January 2nd, 2009 at 5:35 pm and is filed under Front Page, Money. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.