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Gazprom receives Ukraine gas payment for May

Russian energy giant Gazprom said on Monday it had received Ukraine's May gas payment in full, after warnings that a missed payment by Kiev could lead to a new gas crisis.

"Yes, we got it," Gazprom spokesman Sergei Kupriyanov told AFP (1) (AppleTalk Filing Protocol) The file sharing protocol used in an AppleTalk network. In order for non-Apple networks to access data in an AppleShare server, their protocols must translate into the AFP language. See file sharing protocol. . When asked how much had been received, he said: "As much as we needed, we received."

Ukrainian state gas firm Naftogaz said on Friday its gas bill for May was 647 million dollars (464 million euros) and that it had sent the payment in full.

Russia had warned repeatedly that crisis-battered Ukraine would have trouble paying its bills and that missed payments could lead to a repeat of the January gas crisis, which disrupted gas supplies to Europe amid a cold winter spell.

Kupriyanov said the current payment did not avert but merely postponed a new energy crisis, as Ukraine would "unlikely" be in a position to afford the next payment for June.

European officials expressed a similar opinion, with a source close to the the European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community  saying the payment was not "the end of the problem at all."

The EU commission is expected this week to send a fact-finding mission to Moscow and Kiev to shed light on their gas payment dispute.

Under pressure from Moscow, Ukrainian President Viktor Yushchenko Viktor Andriyovych Yushchenko (Ukrainian: Віктор Андрійович Ющенко   said on Friday that he had no other choice but to pay the bill by ordering the printing of Ukrainian hryvnia.

"I would like everyone to know the price of these decisions," Yushchenko said in comments posted on his website.

The decision has raised fears that it will cause a further devaluation devaluation, decreasing the value of one nation's currency relative to gold or the currencies of other nations. It is usually undertaken as a means of correcting a deficit in the balance of payments.  of the hryvnia hryv·nia  
See Table at currency.

[Ukrainian, probably from Russian grivnya, variant of grivna, pendant worn from the neck, obsolete unit of currency in medieval Russia, from
, the country's currency, adding to the woes of Ukraine's already battered economy.

The International Monetary Fund has forecast that Ukraine's economy will contract eight percent overall this year, while the World Bank puts the downturn at nine percent.

Moscow has said it is not willing to bail out Ukraine on its own, urging the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the

European Community
 to come up with a syndicated loan Syndicated Loan

A very large loan in which a group of banks work together to provide funds for one borrower. There is usually one lead bank that takes a small percentage of the loan and syndicates the rest to other banks.

Also known as a "syndicated bank facility.
 for Kiev.

The EU -- which receives one-quarter of its gas from Russia, most of it piped across Ukraine -- said it did not immediately have the money for the struggling ex-Soviet nation.
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Publication:AFP Global Edition
Date:Jun 8, 2009
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