Ukraine says Russia gas price hike unacceptable

Ukraine says it does not accept Russia’s gas price hike, threatening to take Moscow to arbitration court as tensions simmer between the two neighbors.

According to the reports, Ukrainian officials said on Saturday that Kiev was in talks with Russia over reducing the gas price now fixed at USD 485.50 (354.30 euros) for 1,000 cubic meters.
Ukrainian Energy Minister Yuri Prodan said Kiev was ready to take Gazprom to arbitration court if Moscow refused to negotiate over a lower price.
Russia’s state-owned energy giant Gazprom Neft said earlier this week that it was increasing price of gas exports to Ukraine by more than a third.
Gazprom also stated that it would scrap a previous discount, and that Ukraine owes the company USD 1.70 billion (1.24 billion euros) in unpaid gas bills.
The incident marks the latest feud between Moscow and neighboring Kiev after Crimea separated from Ukraine and integrated into Russia following a referendum.