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June 12, 2006

Russian Gas Supplies

The Russian Finance Minister:

Russia has indicated that there will be no repeat of the episode last winter when it cut off the gas flow to Ukraine and sparked a price crisis in Europe. It is now promising to be a stable energy supplier.

At a meeting of finance ministers from the Group of Eight leading economies over the weekend, the country's finance minister pledged to ensure gas keeps flowing out of the country this winter.

Me? I’d prefer that such a politician had nothing whatsoever to do with whether the gas kept flowing or not. With purely private companies you know that decisions are made on profit alone grounds. When you’ve got politicians in it means, inevitably, that there will be politics played.

In fact, the very point that the Finance Minister thought it worth pointing out that he can influence whether the gas arrives or not would be the thing that worried me.

June 12, 2006 in Business | Permalink