Russia hikes gas price for Ukraine

Russia sharply hiked the price for natural gas to Ukraine today, raising the heat on its cash-strapped government, while Ukrainian police moved to disarm members of a radical nationalist group after a shooting spree in the capital, Kiev.

Alexei Miller, the head of Russia’s state-controlled Gazprom natural gas giant, said the company has withdrawn December’s discount which put the price of gas at $268.50 per 1,000 cubic metres and set the price at $385.50 per 1,000 cubic metres for the second quarter.