Meanwhile, Gazprom Sends Ukraine A New Invoice

Tyler Durden's picture

As the day of the IMF's release of funds to Ukraine draws near - solving all their problems with yet more debt, we are told to believe - Russia's Gazprom has gently reminded the Ukrainian government that it owes them... $3.49 billion! and its due the 7th day of May!



As Bloomberg reports,

Gazprom preliminary estimate includes bill for natgas supplied in April, spokesman Sergei Kupriyanov says by e-mail.


The deadline for monthly payments 7th day of next mo., according to supply contract


Gazprom estimates Ukraine’s overdue debt through March at over $2.2b


Ukraine imported ~2.6bcm of natgas in April, Bloomberg calculations based on data from Russian Energy Ministry’s CDU-TEK unit; gas valued at ~$1.3b, based on current price charged by Gazprom


Gazprom raised price for Ukraine to $485/kcm as of April 1 vs $268.50/kcm

Just how is Washington going to cope when all it's "aid" is flushed straight through to the nation whose economy it is trying to cause "costs" to via sanctions...?

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Looney's picture

Tick-tock… The clock is ticking… On April 10, Putin gave the EU 30 days to pay for the Ukrainian gas ($2.2 Billion) and to start paying IN ADVANCE for all future gas sales to Ukraine.

Tick-tock… There are only 10 days left and the NEW amount is $3.5 BILLION!!!


Tick-phuckin’-tock… ;-)



Correction: only 7 days left! ;-)

Patriot Eke's picture

Call me crazy too, but something tells me Putin will keep his word.  His "red lines" will not be like Obama's.

Edit:  How much does timber go for these days?  Maybe Europe can profit by clear cutting some forest.  The Russian tanks will appreciate it too.  /sarc

knukles's picture

If I don't pay my gas bill, they shut it off.
So WTF is new here?
Russians are bad because they wanna be paid?
Ukraine is a deadbeat?


SAT 800's picture

I'm Rootin for Putin !  Are you too ?

StychoKiller's picture

I'm beginning to think that Kerry and the Obamatron are Russian moles!

Mark Carney's picture

A sign of things to come.


Gold price shock will come soon enough when the bigs start taking hits.........LIKE NOW!

Barrick Gold Corp (ABX.TO:Quote) reported a dramatic drop in first-quarter earnings on Wednesday 


First-quarter profit at Barrick Gold shrank 90 per cent, underscoring the tough environment for world’s largest gold producer following the end of merger talkswith its closest rival.

JRobby's picture

Date: Year 5.5 of the realization of being fucked for all time.

Well they waited until summer anyway...............surly this whole thing can be sorted out in 6 months...........

swmnguy's picture

Surly indeed.  And stop calling me Francine.

nowhereman's picture

So German industries that rely on natgas just go on extended vacation until this gets sorted out?  Didn't I read somewhere that the EU is turning away from Nuclear power and converting to natgas?  Watch for brown outs this summer when the airconditioners shut down and the old folks begin to perish in France.

SAT 800's picture

I'm Rootin for Putin ! Let's make it a chant. Let's go viral. Get bumper stickers. Go to Washington and chant "We're Rootin for Putin". Who's with me?

mendolover's picture

I might if it didn't mean Russia and China up OUR ass someday.

Oracle 911's picture

I need to inform you, they are already there. So go ahead and chant and say thanks to the Western "leaders". :)

yogibear's picture

Putin needs to increase the prices for the rest of Europe and not accept the US dollar or Euro.

NoDebt's picture

And send the invoice with a hand-written note that reads: "I must break you."


SumTing Wong's picture

And to think I was pissed about my property tax bill that came in last week. Hell it isn't even half of what Ukraine owes to Gazprom, so I'm probably in good shape.  

toady's picture

And what about the petrodollar? Surely there would be consequences!

silvermail's picture

And what about the petrodollar? Surely there would be consequences!

And what about the retrodollar? Surely there would be consequences!


SAT 800's picture

"Fuck off or Freeze"; would be good.

mendolover's picture

WE are going to be fucking off and freezing thanks to these amateur bastards if they don't cut this shit out!

bonin006's picture

Russia should just sanction adjust the NG price to all of Europe to go up at say 150% of the cost of US/Euro sanctions on it. That should end this farce in a hurry.

ILLILLILLI's picture

Line item on bill:

"Sanction Surcharge"

q99x2's picture

Is Greece going to default.

NoDebt's picture

Unless you are the EU or the IMF, they already did.

jvetter713's picture

How is this worrisome?  If I could just print 100's each month to pay my bills i'd be golden.

Al Huxley's picture

Exactly.  All the 'financial system bullshit' is mostly just geared towards complicating things enough that people miss the obvious truth.  Russia's countermove, as suggested - don't accept payment in infinitely printable currencies.

CrashisOptimistic's picture

That's coming, Al.

The gold wackos on ZH will be crushed when what the Russians demand in no way involves gold.

They'll demand shipped food.  Maybe cut rate labor for washing bathrooms.  Nannies for changing diapers.  Pretty much treat the EU foreign workers as the Saudis treat their Bangladeshi and Philippines labor.

StychoKiller's picture

How you say "scroobing boobles" in Russian (translated from Polish?)

Sudden Debt's picture



Bill of Rights's picture

Do they execpt Food Stamps?

Notsobadwlad's picture

Ukraine should tell Gazprom to either get the money from the previous Russia backed government or send them into collection. I am sure the nasty-grams and phone calls from the collection agency will give them nightmares.

... Ukraine could probably care less what it does to their "credit score".

Al Huxley's picture

...but there is an outside chance they might need some natural gas next month.

CrashisOptimistic's picture

I think the figure was 44% of their electricity is generated from nat gas.

The rest coal.

And they don't generate enough for their consumption; the rest comes from the Russian grid.

DeadFred's picture

Yes, it's warm this time of year, why do they need gas anyway?

StychoKiller's picture

Lotta businesses & electric generators use Natgaz...

JRobby's picture

Credit score (hysterical laughtrack in the background getting louder and louder)

FICO = Fair (a word with no actual meaning) Isaac (a Biblical character, son of Abraham) Corporation ( a non=person entity created to shield actual personal entities from liability)

scam_MERS's picture

Just send the water bill for Crimea to Putin, that should about cover it.

Billy Sol Estes's picture

Just like Comcast, the bill keeps growing for the same service provided.

toady's picture

But competition was supposed to ensure that prices would come down!

swmnguy's picture

Erm, yeah.  About that competition.

Last year Comcast switched our local signal to all digital, so we had to get Digital Transport Adapters for all TVs.  I found it worked OK on my 20 years-old analog tv in the bedroom, but the signal looked horrible on my HDTV set.  I also found with the digital tuner, the HDTV didn't need to use the DTA. Just hooking the cable out of the wall into the tv, I got full HD on the local channels.  I have the cheapest plan, $24.50/month, and I get all the local channels and sub-channels, plus some crap like CNN, WGN, WTBS, and the public service junk.

Last week I saw Comcast's service truck in the alley, messing with something on the pole.  Yesterday morning all channels came up blue on the HDTV, with the word "Scrambled" floating around.  Only one channel worked; Comcast's channel, telling me I needed the DTA.  So I got the DTA out of the basement and put it inline.  It works, but the picture is terrible.  It's all at VHS-tape resolution at best, either 3:4 with bars on the side, or undersized 9:16, with black all around all 4 siides.  Clearly they converted the signal to all-digital last year, but yesterday they started scrambling the signal, and the DTA unscrambles it but down-converts it to a low-definition signal that looks OK on a 20 year old standard-def tv but looks awful on a modern tv.

Tech support was, as expected, worthless.  They ended up telling me to go to their local store.  OK.  No doubt they'll tell me that's just how it is, unless I subscribe to a higher level of service and rent a set-top descrambler box that won't down-convert the signal.  So they've pulled an overnight devaluation of my service.

Oh, well.  Looks like I'll be getting out the tinfoil and coat hangers, and saving myself $24.50 a month.

Cathartes Aura's picture

consider TeeVee as addictive as crack, and Comcast is the supplier.

don't give 'em space in your mind, especially when you have to pay THEM for their use of that space. . .

TheMeatTrapper's picture

Gave up cable a long time ago. NetFlix and Roku keep the wife and kid placated. Anything I want to watch is so obscure it has to be downloaded anyway. 

StrangerThanFiction's picture

Get an antenna and drop cable. I'm south of Montréal and I get 25 channels off the air all HD 720p and 1080i, better than cable.

StychoKiller's picture

Radio is still free and better stations can be found on the internet! (