Ukraine threatens to take Russia to court over gas price ‘economic aggression’
http://www.rawstory.com/rs/2014/04/05/ukraine-threatens-to-take-russia-to-court-over-gas-price-economic-aggression/
Ukraine threatens to take Russia to court over gas price economic aggression
By Agence France-Presse
Saturday, April 5, 2014 15:19 EDT
Ukraine on Saturday (Shenzhen: 002291.SZ news) rejected Russias latest gas price hike and threatened to take its energy-rich neighbour to arbitration court over a dispute that could imperil deliveries to western Europe.
Prime Minister Arseniy Yatsenyuk said Russias two rate increases in three days were a form of economic aggression aimed at punishing Ukraines new leaders for overthrowing a Moscow-backed regime last month.
Russias natural gas group Gazprom (MCX: GAZP.ME news) this week raised the price of Ukrainian gas by 81 percent to $485.50 (354.30 euros) from $268.50 for 1,000 cubic metres requiring the ex-Soviet state to pay the highest rate of any of its European clients.
The decision threatens to further fan a furious diplomatic row between Moscow and the West that has left Kremlin (Berlin: KMLK.BE news) insiders facing sanctions and more diplomatic isolation than at any stage since the 1989 fall of the Berlin Wall.