Mediaboss Marketing

The long-awaited truce in eastern Ukraine appears to be taking hold, with Ukraine's army reporting no combat fatalities for the first time in weeks. (Reuters)

MOSCOW Russia shifted its showdown with Ukraine to economic pressure on Wednesday, as Russian President Vladimir Putin threatened to cut off natural gas within days even as fighting finally started to quiet in war-torn eastern Ukraine.

Putins warning raised new troubles for Ukraines economy, which is on the verge of collapse. Among the problems: dangerously low reserves of foreign currency needed to pay for the critical natural gas supplies.

Putin also said that any cut-off could also hit Europe, raising the prospect that the continent could again face shortages with warmer weather still months away.

Ukraine is a vital throughway for Russian gas deliveries to Western Europe. Russia has in the past cut off gas to nations with which it was having geopolitical disputes, although it has always denied using energy as a weapon.

The tough line by Russia underscores its growing tensions with the West during the nearly 11-month uprising in eastern Ukraine by pro-Moscow rebels.

Ukraines Western-allied government and its allies claim Russia has sent troops and weapons to aid the separatists in Europes bloodiest conflict since the Balkan wars of the 1990s.

Russia strongly denies the charges, but has played a key role as a political voice for the rebels and holds apparent sway over the rebels adherence to a cease-fire pact reached earlier this month.

We hope that things won't get as far as these extreme measures and that the gas supply won't be interrupted, Putin said Wednesday. But this doesn't depend on us alone. It depends on the financial discipline of our Ukrainian partners.

Naturally this might create a certain threat for gas transit to Europe, he added.

See the rest here:
Putin threatens to cut gas to Ukraine as showdowns shift to economy