A short-term deal over gas supplies between Russia, Ukraine and the European Union, has ensured European gas supplies during the winter. But it falls far short of what Ukraine negotiators wanted. And longer-term decisions over Ukraine’s gas prices, outstanding debts and agreements with Russian energy giant Gazprom will be determined by an arbitration court only at the end of 2015

<i>A trilateral gas deal between Russia, Ukraine and the European Union was agreed in October 2014. It was welcomed across Europe as it reduced the risk of winter gas disruptions. The ‘winter gas package’ covers three major issues: Ukraine’s purchase of natural gas from Russia, Russian payments for Ukra...

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Dr. Frank Umbach
Most European countries, unlike Ukraine, were able to negotiate reduced gas prices with Gazprom because of market oversupply and weakening prices
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