MOLDOVA…

Russian monopoly Gazprom has relented on its threat to discontinue natural-gas deliveries after August 1. The company has reportedly agreed to reschedule Moldova’s debts, estimated at $300 million – $500 million, and to accept most payment in barter, not cash. Moldovan officials who announced the settlement did not reveal what concessions they made, but presumably they withdrew the threat to block transshipments of gas through Moldova to customers in Turkey, Greece, Romania and Bulgaria. The terms of the settlement with Moldova could set a precedent for Belarus and Ukraine, also far in arrears on payments to Gazprom.