| Russia cut natural-gas shipments to Ukraine by a quarter after Kiev refused to pay $230 per 1,000 cubic metres which is four times as much compared with the current price of $50. The sharp conflict led to reduced deliveries to other customers in Europe as Russia provides 25% of European gas with the bulk of those shipments flowing through Ukraine. Since the crisis broke out, in the last two days, natural gas price in London trading has jumped 17%. |
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