Russia-Ukraine Tension Could Cause Another Gas Crisis

BRUSSELS — A lingering natural-gas dispute between Russia and Ukraine could cause a major crisis in the European

Union

“in weeks, not months,” the second such crisis in just over six months, European Commission President Jose Manuel Barroso said Friday.

Mr. Barroso, attending a summit of EU leaders in Brussels, said it was “too early” for the EU to decide whether to provide financing help for Ukraine to fill its gas storage facilities.

Ukraine’s state-owned natural gas company, Naftogaz, said Thursday that international financial institutions may provide a $4.2-billion loan to enable the country to fill its underground storage facilities with Russian gas.

“We don’t have that money in the budget,” Mr. Barroso said, noting that the EU has been in touch with the International Monetary Fund and other international institutions about this issue.

WSJ