KXIP vs KKR Live Score

Kiev and Moscow plunged into a new gas dispute on Thursday after Russia's Gazprom (GAZP.MM) unexpectedly decided not to restart supplies, forcing Ukraine to cut usage despite freezing weather.

Gazprom's refusal to supply Ukraine with gas for prepayment strips the Russian company its "take or pay" entitlement in 2018, CEO of NJSC Naftogaz Ukrainy Andriy Kobolev said.

"Naftogaz is surprised to learn of Gazprom's decision not to supply gas to Ukraine in March". Gazprom had said that the court rejected demands of Naftogaz to increase the tariff for gas transit from Russian Federation. Ukraine's national gas company Naftogaz said it was owed compensation for a lack of agreed supply and for transit fees through the country's pipelines.

In the first trial - under the gas supply contract - the court took a compromise solution. Gazprom, however, refuses to recognize it and still is paying for transit at contract prices.

"The award means that Gazprom will have to make payments to Naftogaz in the order of $2.56 billion after residual payments for gas delivered in 2014 and 2015 have been settled", the Ukrainian firm confirmed in a statement late Wednesday.

More news: YouTube Live updated with IFTTT integration and automatic captions

Ukraine stopped buying gas from Russian Federation in November 2015. The Russian Ministry of Energy believes that no grounds are in place so far for resumption of trilateral talks among Russia, Ukraine and the European Union on gas supplies.

The Stockholm court partially satisfied this claim, and said that Gazprom had indeed not met the agreed-upon quota between the years 2009 and 2017, but also ruled that a little over $4.5 billion dollars in damages should be paid, Kommersant said in another article.

"The Ukrainian authorities informed us about a possible emergency situation in Ukraine's gas transport system".

Gazprom and Naftogaz had both put forward several claims against each other.

"Technically, Gazprom has been obliged to pay this sum since yesterday evening".