Standard & Poor's on April 25 downgraded Russia's foreign currency rating to a single notch above junk status, from BBB/A-3 to BBB/A-2, and also cut the local currency long-term rating to BBB from BBB+, CNBC reported.
Russia's Gazprom has fined Ukraine's Naftogaz $11.4 billion for failing to meet a so-called take-or-pay clause for natural gas supplies, Reuters reported April 24, citing an Interfax report that quoted a Gazprom official.
Turkey and Russia have agreed in principle to increase the capacity of the Blue Stream pipeline, which transports Russian natural gas to Turkey via the Black Sea, Turkish Energy Minister Taner Yildiz said April 21, Reuters reported.
A reduction in the price Turkey pays for Russian natural gas imports is not on the agenda when Alexander Medvedev, deputy chairman of Gazprom's board of directors, visits Turkey on April 21, Gazprom sources said, Today's Zaman reported.
EU Energy Commissioner Guenther Oettinger said April 20 he sees no danger of Russian state-owned energy firm Gazprom not fulfilling its contractual obligations to supply natural gas to Europe, EU Business reported, citing Welt am Sonntag.