This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.

You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/7271604.stm

The article has changed 4 times. There is an RSS feed of changes available.

Version 2 Version 3
Gazprom to reduce Ukraine's gas Gazprom to reduce Ukraine's gas
(about 2 hours later)
Gazprom, Russia's gas monopoly, says it will cut supplies to Ukraine by 25% on Monday after talks between the two sides ended in failure.Gazprom, Russia's gas monopoly, says it will cut supplies to Ukraine by 25% on Monday after talks between the two sides ended in failure.
The state-run Russian company said its efforts to get Ukraine to pay its debts had "reached a dead end".The state-run Russian company said its efforts to get Ukraine to pay its debts had "reached a dead end".
Earlier this month, Russian President Vladimir Putin and Ukraine's Viktor Yushchenko reached an outline deal, but the details could not be agreed.Earlier this month, Russian President Vladimir Putin and Ukraine's Viktor Yushchenko reached an outline deal, but the details could not be agreed.
Western commentators accuse Moscow of using Gazprom as a political tool.Western commentators accuse Moscow of using Gazprom as a political tool.
Gazprom said it was ready to continue negotiations over the weekend.Gazprom said it was ready to continue negotiations over the weekend.
But the company spokesperson was unable to say whether Ukranian representatives were willing to take part in further discussions. Considering that the situation has reached a dead end, to guarantee its own economic interests, Gazprom will reduce its gas supplies Gazprom statement
A previous row between the two sides saw Russia cut gas to Ukraine in 2006, also hitting exports to western Europe. But Ukraine's deputy prime minister said the money had already been transferred and that documents to confirm this had been sent to Gazprom.
"The issue of whether money from intermediaries arrives to Gazprom is Gazprom's business," Oleksandr Turchynov said.
A previous row between the two sides saw Russia cut gas to Ukraine in 2006, also hitting exports to Western Europe.
The European Commission has said it has been assured by Gazprom that supplies to the EU will not be affected by any renewed cut in exports to Ukraine.The European Commission has said it has been assured by Gazprom that supplies to the EU will not be affected by any renewed cut in exports to Ukraine.
Missing gasMissing gas
Gazprom says it is owed $1.5bn (£770m) in arrears by Ukraine for gas already supplied.Gazprom says it is owed $1.5bn (£770m) in arrears by Ukraine for gas already supplied.
It says 1.9 billion cubic metres of gas have gone missing and are now considered Ukrainian debt.
Gazprom spokesman Sergei Kupriyanov said in a statement that talks with Ukraine on Thursday and Friday had failed to produce results.Gazprom spokesman Sergei Kupriyanov said in a statement that talks with Ukraine on Thursday and Friday had failed to produce results.
"Considering that the situation has reached a dead end, to guarantee its own economic interests, Gazprom will reduce its gas supplies to Ukrainian consumers by 25% on 3 March at 1000 [0700 GMT]," the statement said."Considering that the situation has reached a dead end, to guarantee its own economic interests, Gazprom will reduce its gas supplies to Ukrainian consumers by 25% on 3 March at 1000 [0700 GMT]," the statement said.
Russia supplies about a quarter of Ukraine's gas imports. Pipelines delivering gas to Ukraine from former soviet states also cross Russia. Earlier this month, Russian President Vladimir Putin met with his Ukrainian counterpart Viktor Yushchenko to try and settle the payments dispute.
Mr Putin agreed to Ukraine's demands to replace two intermediary gas trading companies through which Ukraine pays for imported gas with a more transparent firm.