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July will be the third month that Gazprom holds back on shipping more gas volumes through Ukraine.

Analysts have concluded that Gazprom is working to raise European gas prices and to build support for the Nord Stream 2 pipeline. A sizeable number of US congressional representatives seek to impose sanctions to prevent this Russia-Germany gas line from opening in the fall.

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The Finance Ministry sold only $93 million worth government bonds yesterday – 22% the amount sold at last week’s auction

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News that Gazprom spurned Ukraine’s offer pushed Europe gas prices yesterday over $400/1,000 cubic meters, the highest level in over a decade.