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Economic Warfare?

11:20 AM, Apr 8, 2014 • By GEOFFREY NORMAN
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The Ukraine crisis may end not with an invasion, but a lien. As Reuters reports:

Russian natural gas producer Gazprom said on Tuesday Ukraine had failed to pay for its March gas supplies on time but did not say whether the company would take any action against Kiev. "They haven't paid for March," a spokesman said, confirming that Ukraine's total debt of $2.2 billion had not been reduced by the deadline of midnight on Monday.

This looks like sanctions by other means.

Gazprom has almost doubled the gas price for Ukraine to $485 per 1,000 cubic metres, compared to the $370-$380 it charges Europe on average. Ukraine says the new price is unacceptable and is politically motivated.

Giving new meaning and urgency to the phrase, "Pay up, or else."

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