Russia's Gazprom is likely to increase the price Ukraine pays for its gas supplies to $368.5 per 1,000 cubic metres in the second quarter of this year, Interfax news agency quoted the Ukrainian energy minister as saying on Sunday, according to Reuters. Russia agreed in December to cut gas prices for Ukraine to $268.50 per 1,000 cubic metres from around $400, as part of a bailout package following Kiev's decision to reject closer ties with the European Union and turn to Russia instead. The overthrow of Moscow-backed Viktor Yanukovich as Ukraine's president and the new government's pro-Western policies have put that deal in doubt. "From Russia we expect to pay about $368.5 in the second quarter," Fuel and Energy Minister Yuri Prodan was quoted as telling reporters.
