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Russian gas cut to Ukraine unlikely to hurt Europe: analysts

A Russian gas power plant is pictured in the Russian Black Sea resort of Sochi on November 30, 2013Moscow’s latest warning that Europe could run short of Russian gas this winter lacks credibility, analysts say, as the prospect of new Western sanctions over the Ukraine crisis rises. Russia is the EU’s top supplier of gas which much of the supplies transiting through Ukraine. The 28-nation bloc depends on energy imports for more than 50 percent of its needs, and roughly 40 percent of supplies come from Russia. Russia in mid-June cut its deliveries for Ukraine after a pro-Western government took power, saying that Kiev had not be paying its bills on time.

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