Financial Times FT.com

Europe better able to ride out gas storm

By Stefan Wagstyl and Ed Crooks in London and Roman Olearchyk in Kiev

Published: January 1 2009 19:15 | Last updated: January 1 2009 19:15

When Russia cut natural gas supplies to Ukraine three years ago, the impact was felt immediately across the European Union as Kiev made good its losses by diverting transit shipments.

There was outrage in EU capitals when supplies dropped by 30 per cent or more, even though normal service was quickly resumed after Russia and Ukraine reached a deal on January 3.

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