UKRAINE THREATENS TO TAKE RUSSIA TO COURT OVER GAS

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KIEV: Ukraine on Saturday (Sunday in Manila) rejected Russia’s 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 Russia’s two rate increases in three days were a form of “economic aggression” aimed at punishing Ukraine’s new leaders for overthrowing a Moscow-backed regime last month. Russia’s natural gas group Gazprom this week raised the price of Ukrainian gas by 81 percent—to $485.50 (354.30 euros) from $268.50 for 1,000 cubic meters—requiring the ex-Soviet state to pay the highest rate of any of its European clients.

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AFP

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