GAS PAINS:

Moldova owes Russian gas monopoly Gazprom $300 million – $500 million and cannot pay. Gazprom cut back on deliveries and threatens further cuts if payment — in cash money — is not made by August 1. Moldova, in turn, has threatened to cut off the transit of Russian gas through pipelines on its territory to markets in Bulgaria, Romania, Greece and Turkey. Negotiations continue … In a similar standoff, Turkmenistan is demanding that Russia pay debts it calculates at $107 million. Russia, in turn, refuses to allow transit for gas from Turkmenistan to markets in Europe.