World Bulletin/News Desk
Ukraine has made no payments to Gazprom despite a midnight (2000 GMT) deadline to reduce its $2.2 billion debt for natural gas supplies, the Russian gas producer said on Monday.
The Ukrainian government says Russia has increased the gas price for Kiev for political reasons in a crisis over Moscow's annexation of Crimea that has fuelled East-West tensions.
A Gazprom spokesman declined to say what action, if any, the company would take if Kiev did not meet the deadline - which falls on the seventh day of each month - for settling its monthly bill.
"There have been zero payments from Ukraine," he said.
Ukraine has missed deadlines in the past without punishment but Gazprom has suggested it might ask Kiev to pay in advance for gas if it does not meet the monthly deadline.
Gazprom cut off gas supplies to Ukraine in price disputes in the winters of 2005/2006 and 2008/2009, actions which also disrupted supplies of Russian gas to Europe carried via Ukraine.
Gazprom last week increased the gas price for Ukraine by 80 percent, to $485 per 1,000 cubic metres while it charges European clients $370-$380.
The move increases a squeeze on Ukraine's economy and puts more pressure on the Kiev government following Russia's annexation of the Crimea region from Ukraine during the most serious East-West rift since the end of the Cold War in 1991.
Ukrainian Prime Minister Arseny Yatseniuk said last week that the increase was unacceptable and warned that he expected Russia to step up pressure by limiting supplies to Ukraine.
Russia meets 30 percent of Europe's total gas demand, while a half of gas from Russia to the European Union goes via Ukraine.
Russian gas supplies to the EU and Turkey hit an all-time high of 162 billion cubic metres last year, while first-quarter exports edged up 2.4 percent as European customers have rushed to buy gas from Gazprom in anticipation of possible cuts.
Analysts have said the crisis could drag on for sometime, probably until next winter.
The proposed tie-up also drew criticism from France, Belgium, Portugal and the Netherlands, fearful for the future of their own stock exchanges, owned by Euronext.
The firm is trying to spin off its prized memory chip business to raise cash, after earlier selling its medical devices unit and most of a home appliance business.
Kuwait Oil Minister Essam al-Marzouk, who heads a joint ministerial committee tasked with overseeing compliance to the cuts, said conformity to the reductions could be improved.
The London headquarters of the European Union's financial regulator, in the Canary Wharf district, has 170 staff members from 27 of the 28 European Union nations.
Market research firm GfK's forward-looking consumer confidence reading for April slipped to 9.8 points after 10.0 this month, slightly short of analysts' expectations, it said in a statement.
There is widespread belief the tycoon's health system proposals will fall foul of lawmakers with many of his Republican counterparts opposed to numerous parts of it and raising questions about the fate of promised infrastructure spending, tax cuts and deregulation.
BIST 100 index opens 0.35 pct higher; US dollar/Turkish lira rate hovers around 3.61
The United States and Japan -- the world's largest and third-largest economies, respectively -- have notably declined to join the bank.
London's benchmark FTSE 100 index dropped 0.6 percent to 7,336.30 points compared with Tuesday's close.
The 12-month inflation rate hit 2.3 percent last month compared with 1.8 percent in January, the Office for National Statistics (ONS) said in a statement.
Gains for Deutsche shares topped 7.0 percent in the early afternoon, before slipping back to trade at 16.16 euros ($17.61) -- still up 5.33 percent -- just after 1400 GMT.
Today is 'day of revolution' for Turkey's energy sector with Monday's solar tender, says Turkish Minister
UBS will be charged with illegal banking practices and dissimulating tax fraud, the sources said, adding UBS's French subsidiary will also go on trial for complicity.
A fresh investment from the World Bank will see Africa receive $57 billion for investment
The move is significant as it means North Korea no longer has access SWIFT's global financial transfer system, further isolating the already heavily-sanctioned country.