Bloomberg has produced a visually pleasing piece comprising six charts that illustrate how much Russia is hurting economically right now.
Ukraine to prepay for Russian gas today or tomorrow-energy minister
KIEV, Dec 3 (Reuters) - Ukraine will make a prepayment for 1 billion cubic metres of Russian gas on Wednesday or Thursday, Ukrainian Energy Minister Volodymyr Demchyshyn said, as the deepening winter forces the country to rely for energy on its powerful neighbour.
Russia, which cut off supplies to Ukraine in June because of a standoff over prices, has insisted that Ukraine pay for supplies in advance. So far, Kiev has not committed to new orders as a separatist conflict weighs on its flagging economy.
However, increasingly cold weather is forcing the country to turn to Russia as it draws down its severely depleted reserves.
"The prepayment will take place today or tomorrow, I hope today ... We've started drawing on reserves more aggressively," Demchyshyn said at a briefing.
Since the start of the heating season in late October, reserves have fallen 17 percent to 13.9 billion cubic metres as of Dec. 1, according to data from Ukrtransgaz, the state-run gas transport monopoly.
State energy firm Naftogaz declined to comment when it planned to send the payment.
New Ukraine talks possible next week, former president says
Moscow (dpa) -- Fresh talks aimed at settling the conflict between pro-Russian separatists and government forces in eastern Ukraine might begin next week, former Ukrainian president Leonid Kuchma said Wednesday.
The meeting would be of the so-called contact group, Kuchma said in Kiev, according to the Interfax Ukraine news agency.
Kuchma, who was president from 1994 to 2005, acts as Kiev's
representative at the group, which consists of Ukraine, Russia and the Organization for Security and Co-operation in Europe (OSCE).
The contact group brokered the ceasefire in two meetings with
separatist leaders in September in the Belarusian capital, Minsk.
The talks are in the works as efforts are renewed to enforce the
fragile ceasefire.
An agreement to stop firing at the Donetsk airport was broken less than half an hour after it came into force Tuesday, the Ukrainian military said.
Ukraine's National Security Council claimed Wednesday that the
separatists suffered heavy losses after launching attacks on the
airport.
"This object remains under Ukrainian forces' control," council
spokesman Andriy Lyusenko said.
A second regional ceasefire is to be introduced in the neighbouring Luhansk region Friday.
Ukraine and West countries accuse Russia of supporting the
separatists with heavy weapons and fighters - charges which Moscow denies.
The conflict has led to the worst crisis between Russia and the West since the end of the Cold War.
However, German Foreign Minister Frank-Walter Steinmeier said
Wednesday that NATO should open a fresh channel of communication with Russia.
NATO foreign ministers agreed to ask Secretary General Jens
Stoltenberg to find ways to restart talks between both sides'
military experts, Steinmeier said in Brussels.
"We should have a minimum level of exchange with Russia in these critical times," he said.