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Kiev’s failure to pay gas bill could cost EU its supply

Ukraine has two days to pay the bills before Russia cuts off its gas supplies. This of course “creates serious risks for the transit to Europe”, Gazprom CEO Alexey Miller said, according to Russian news portal The statement came after Ukrainian state energy company Naftogaz accused Gazprom of failing to deliver gas that Kiev had paid for in advance.

Earlier this month, Russian Energy Minister Aleksandr Novak estimated Ukraine's debt to Russian energy giant Gazprom at $2.3 bln. At the end of 2014, when Kiev's gas debt stood above $5 bln, Moscow suspended gas deliveries to Ukraine for nearly six months.