NEW YORK TIMES: …The agreement was reached after Europe brokered a payment of more than $3 billion in past-due bills to Gazprom, the Kremlin-controlled energy giant — and after each side bowed to financial realities…
Russia is facing a raft of economic problems, stemming from the dual pinch of lower oil prices and economic sanctions by the West. Ukraine, despite frantic efforts, has failed to pull together enough alternative supplies to meet its gas needs for winter…
The deal calls for Ukraine to make payments amounting to some $3.1 billion for past-due gas supplies before the end of this year, using money it has borrowed through the International Monetary Fund. It will then be able to buy another $1.5 billion at negotiated prices for the remainder of the winter, also largely using credit from the West… (more)
