$1.6 Billion Gas Deal Warms Europe, Ukraine

Moscow insists on payment up front

Late last week, the EU, Russia and Ukraine struck a long awaited deal to supply Russian gas to Ukraine and Europe this winter.

“EU officials said both Russia and Ukraine had bargained hard for commitments from the Western bloc,” according to Reuters, “with Moscow looking for EU cash to help Ukraine pay off debts to Gazprom (ticker: GAZP) and the Kiev authorities anxious to get a deal that they could present to domestic voters as not overpaying for vital Russian supplies.”

Moscow said Ukraine would pay...