Reports have emerged following yesterday's meeting between 'comfortable' duo Vladimir Putin and his Ukrainian counterpart, Yulia Tymoshenko.  Bloomberg says Putin's announcement that Ukraine would not be penalized for consuming less gas than was contracted was warmly received by Tymoshenko, who pledged that payments would be made on time.  'It would be very good to meet the New Year without calamities,' Putin said, guaranteeing stable supplies (click here for some transit figures).  This exchange was overshadowed by Medvedev's advisor in Moscow, who reportedly complained about 'political blackmail' in light of Tymoshenko's decision to increase transit fees earlier this week. The Guardian points out that TNK-BP's new chief executive, the choice of its oligarch board, is 'inexperienced', but BP insists that it was not 'steamrollered' into accepting him.  Russia's stepped-up pledge for emissions reductions is drawing positive reports.  ...

Russia's Energy Minister and the EU Energy Commissioner have signed a memorandum establishing an early warning mechanism to anticipate potential gas cuts and allow time to find solutions to problems before deliveries are physically affected.  But the memorandum may be useless, suggests one analyst, as the decision to cut supplies lies with Gazprom, which has already criticized the European Union for not doing enough to head off another gas crisis this winter.  Russia may participate in the reconstruction of Ukraine's pipeline network, but Yulia Tymoshenko insists that the system will not be privatized.  Iran is not pleased with 'dishonest' Russia, after the latter said that 'technical reasons' were behind its announcement that the Bushehr nuclear plant would not be ready by the end of the year as planned.  The IAEA is continuing to press ...

Winter is upon us, and the last couple of days have seen rumors rumbling about the possibility of another gas interruption - due to payment problems at Ukraine's end.  It is alleged that Ukrainian Prime Minister Yulia Tymoshenko alerted Vladimir Putin to the fact that President Viktor Yushchenko was impeding 'the normal partnership between the Central Bank, which had the gold reserves at disposal, and the government', thus jeopardizing payment.The good news for those in Europe looking forward to a toasty winter is that analysts are suggesting that this talk is more hot air fueled by political rivalry between Viktor Yushchenko and Yulia Tymoshenko (who will race each other ,along with Victor Yanukovych, to the post of ...

The race for Ukraine's Presidency is hotting up.  With the incumbent serial Kremlin-offender Viktor Yushchenko flagging with ratings of just 3%, it seems that battle has truly commenced between Prime Minister Yulia Tymoshenko and opposition leader Viktor Yanukovych.  Russia-Ukraine relations have considerably suffered under Yushchenko's leadership -  will Tymoshenko, the other, (lest it be forgot) architect of the Orange Revolution, be West or East-leaning?  RFE/RL quotes her as suggesting that whilst involvement with Europe will be prioritized, warmer Russia relations may be on the cards:I'm sure that our relations with the Russian Federation can be equal and respectable, open and honest, without ambiguities.Or is she planning an altogether different kind of homage to Russia?  Yevgeny ...

The Independent reports that Gulf Arab states have been engaged in secret talks with Russia, China, Japan and France to replace the US dollar with a basket of currencies in the trading of oil:  'This sounds like a dangerous prediction of a future economic war between the US and China over Middle East oil'.  Saudi Arabia's central bank chief has vociferously denied these claims, says the Washington Post.  An unlikely venture for Gazprom: the company apparently plans to start a chain of fast-food and supermarket outlets.  It is likely that the gas giant will recommence gas purchases from Turkmenistan this month or next, following a long suspension due to April's pipeline explosion.  Ukrainian Prime Minister Yulia Tymoshenko will postpone the electorate-displeasing move of raising domestic gas prices until after the Jan. 17 presidential election, despite a ...

Things are looking pretty bad for the Ukrainian President Viktor Yushchenko.  Following Dmitry Medvedev's direct attack on his candidacy, Russia has successfully made itself indispensable in this election ... it seems they have learned from the last time.  These comments from Yushchenko reported in the Financial Times makes it appear as though he is winding down, getting a few last punches in before he is tossed from office.  Usually it's moments like these when we hear the most interesting things.

Mr Yushchenko said: "We are witnesses of how the politics of totalitarianism is reaching its apogee against the principles of democracy, sovereignty and territorial integrity. Georgia is a sign of how, unfortunately, the Pan European community did not stand up to defend these fundamental principles. It's was a setback," he said.

The Ukrainian president said he

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Russia may raise electricity prices more than the 5% planned following the Sayano-Shushenskaya power station disaster, says Reuters.  Ukrainian Prime Minister Yulia Tymoshenko has stated that the country's gas problems with Russia have been almost entirely resolved.  According to the Moscow Times, Putin will accept Ukraine only purchasing as much gas as the country can afford.  Gazprom has confirmed that talks are underway with Japan regarding a gas link to the Far East.  To get up to speed on nuclear projects in central, eastern and southeastern Europe, look here.  The crisis has affected a number of projects in that region.  Vladimir Putin has apparently told Bulgarian counterpart Boyko Borissov that Bulgaria needs to make a decision on the Burgas-Alexandroupolis pipeline.  Rosneft reported profits of $1.61 billion for the second-quarter of 2009, falling beneath the ...

Shell has begun building a $100 million lubricant blending plant in Torzhok, which is the first to be constructed by an international firm in Russia.  After talks with Polish premier Donald Tusk in Gdansk, Vladimir Putin will meet with Ukrainian Prime Minister Yulia Tymoshenko to discuss natural gas among other matters.  The oil minister of Qatar has said that Russia has promised to support OPEC's production cuts.  Petrobas shareholders are worried by the new plans Brazilian President Luiz Inacio Lula has for the company to explore new and extensive oil fields.  The corporation dropped in value by $7 billion in one day, as the President's plans would allow the state to increase its stake in the company.  Turkmenistan is planning to create a naval base on the Caspian Sea, a move that could be seen as ...

Following the hydropower plant disaster, President Medvedev instructed the government 'to provide uninterrupted energy supply to industrial enterprises, social institutions and the population'. Apparently Rushydro will not raise its prices to offset the cost of repairs.  Russian regions reportedly owe Gazprom in the range of $2 billion for natural gas.  Regions that 'can pay, should pay' says First Deputy Prime Minister Viktor Zubkov.  Poland's talks with Russia on gas supplies, planned for the end of August, have been canceled.  No new date has been set as of yet.  Bloomberg suggests this may lead to dramatic gas shortages, as the country needs an extra 2.3 billion cubic meters of gas a year from 2010.  Abu Dhabi National Energy Company TAQA has said that it has made a deal with Gazprom on a joint gas storage project in ...

I can understand some complaints coming from the Putinistas and even the moderates that criticism from the opposition can begin sound a bit like a broken record:  the same laundry lists over and over, just updated with the latest murdered human rights worker or journalist (which is a sad statement on current affairs in general).  The oppo rhetoric can especially get stretched whenever it comes to the Baltics, Ukraine, and Georgia, where the Kremlin arguments are well honed and even better funded. Anders Åslund, whom we've interviewed in the past for the blog, raises what I think is a new point in this new Financial Times piece ... that the state of poor relations between Moscow and Kiev can be seen as something of an embarrassment of failed Russian policy.  In writing about Dmitry Medvedev's recent hostile lashing ...