Source Pravda.Ru

Russian gas giant warns Ukraine's supplies will be cut

Russia will cut off natural gas supplies to Ukraine if no compromise is reached by Jan. 1, officials with Russia's state-run gas monopoly said Tuesday, markedly raising the stakes in an increasingly acrimonious dispute.

Gas giant Gazprom also gave a tough rebuttal to Ukrainian President Viktor Yushchenko's proposal that price hikes for &to=http://english.pravda.ru/main/18/89/357/15822_gas.html' target=_blank>Russian gas supplies be gradually implemented. Moscow has proposed tripling its gas prices immediately.

In an interview with the Kremlin-backed satellite TV channel Russia Today, Gazprom Chief Executive Officer &to=http://english.pravda.ru/comp/2002/09/13/36552.html' target=_blank>Alexei Miller said time was running out for reaching a new contract with Kiev.

"If no compromise over Russian gas supplies to Ukraine is found before the New Year, the supplies will be stopped," Miller said, according to Russia Today.