Just when you thought the situation in Ukraine was getting better, it got worse…..a lot worse. Russia cuts gas supply to Ukraine as tensions grow.
Further, Russia suggested that it will find alternative routes to the EU market if Ukraine starts stealing EU bound gas (which is highly probable). If Ukraine tries to steal Europe-bound gas, Gazprom will develop alternative routes.
While many will make a political or a geopolitical issue out of this, I view this in a very simple light. Ukraine owns Russia close to $4.5 Billion in gas debt and it should pay. Particularly after Ukraine received a $3.2 billion bailout tranche from the IMF and another $1 Billion from the US to do just that. Or was that money already stolen?
