Russia May Stop Gas Supplies to Ukraine in Two Days

TEHRAN  (Sputnik) — Russia could stop gas supplies to Ukraine this week, as Kiev’s prepayment is sufficient to cover deliveries for about two days, Russia’s Gazprom CEO Alexey Miller said Monday.

Greece bailout: Europe turns up pressure as cash runs out

ECB looks at restricting emergency lending to Greek banks

More pressure has been heaped upon Athens, as reports suggested the European Central Bank is looking at placing greater restrictions on the use of its emergency lending facilities by Greece’s domestic banks.

Greek banks have tapped around €74bn (£53bn) in emergency liquidity assistance from the ECB to replace the deposits that nervous domestic savers have pulled out of the financial system in recent months. Without that lifeline, the country’s banks would rapidly collapse.

Russia gives Ukraine gas payment deadline

Gazprom has again threatened to cut off Ukraine’s gas supplies after setting a new deadline for the crisis-ridden east European state to pay the $3.5bn (£2.8bn) the energy giant says it is owed.

The warning to pay by June 2 follows pressure from the Russian government on Gazprom to test the West’s commitment to protect the vital gas route for supplies into Europe.