Russia Warns EU of Winter Oil Cut-Off

In what has become an annual New Year’s ritual, a dispute with Ukraine over energy transit fees could prompt Russia to cut oil supplies to Eastern Europe

(Bloomberg)

At least 20 European countries suffered disruption of Russian natural-gas imports in January as the world’s largest producer of the fuel cut supplies to Ukraine during a payment dispute that hurt the countries’ reputations as supplier and transit nations. Russian oil exports to Europe were interrupted in January 2007 when Belarus sought to tax transits.

“Talks are still continuing and today’s Russian statement is speculation,” Sokolovskyi said. “We want to complete talks by year-end. The accord will be about transit via two pipelines: Odesa-Brody and Druzhba.”

Russian Energy Minister Sergei Shmatko notified the European

Union

of the possible stoppage, the Slovak government said in a statement today, citing an official letter it received from the European Commission, the EU’s executive body.

BusinessWeek