EconoMonitor : EconoMonitor » Putin Is Losing Eastern European Energy Gamble:
"Russian President Vladimir Putin said he doesn’t think the European community can do without the natural gas it gets from energy monopoly Gazprom. With a Russian economy starting to decline, however, it may be Gazprom that’s too strongly interconnected to the European market to break free.
The narrative over European energy security reaches at least back to 2006 when Gazprom first cut gas supplies through Ukraine. The fallout from the latest disruption in 2009 put opposition darling and former Prime Minister Yulia Tymoshenko in prison, but now the tables have turned for a Ukraine tilting more strongly toward the European Union.
Last week, Putin warned European leaders that gas supplies through Ukraine may be cut if Kiev didn’t settle its $2.2 billion gas debt to Gazprom. With European allies mulling the best way to break Russia’s grip on the region’s energy sector, Putin said there are few alternatives to Russian natural gas."
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