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Author Topic: Russia, the new Enron?  (Read 817 times)

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Russia, the new Enron?
« on: January 06, 2009, 12:03:02 PM »

Jan. 6 (Bloomberg) -- Russia’s natural gas dispute with Ukraine worsened, shutting off fuel shipments to Europe for the first time in three years and driving energy prices higher.

Russia and Ukraine blamed each other for the cuts as gas shipments from OAO Gazprom through Ukraine plummeted and deliveries to the Balkans were halted. The conflict caused U.K. gas prices to jump as much as 27 percent. NAK Naftogaz Ukrainy Chief Executive Officer Oleh Dubina said he would return to Moscow on Jan. 8 to resume talks.

A large part of Europe seems to have been affected, and prices have spiked there. They say there was no warning, who's willing to bet a russian hedge fund somewhere is raking in billions from such a sure bet?


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