"Russian gas monopoly Gazprom has warned Ukraine it will reduce its gas supplies from next Monday if a $1.5bn (£772m) gas debt is not paid off." They say that this would affect only 25% of the country's total fuel supply.On Wednesday, Ukraine joined the World Trade Organisation after 14 years of negotiations. Russia is the world's only major economy not to be a member.
This leads to claims Gazprom is also being accused of making this warning for political reasons, but Mr Kochevrin, the Gazprom spokesman, insisted "We're a commercial company: our investors won't understand if our profits fall."
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Lately, Russia's government and businesses have been uncomfortabley chaffing with its surrounding nations and the larger power of the world. Aside from negatively impacting the Ukraine, this act will most likely further the already declining international opinion of Russia.
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