(Reuters) - Ukraine's state energy firm Naftogaz said it would not resume buying natural gas from Russia, suspended since late 2015, until Moscow offered it competitive prices and conditions. Ukraine was one of Russia's largest consumers of natural gas until the relations between the two ex-Soviet republics soured in 2014 when Moscow annexed Crimea peninsula from its neighbour. Ukraine has embarked on natural gas market reforms, including scrapping of state-regulated gas prices for industrial users. "Reform of the Ukrainian gas market has created an opportunity for any Ukrainian or foreign trader to buy gas from Russia, should prices and conditions be competitive. But, so far, Russia hasn't offered gas under these terms," Andriy Kobolyev, Naftogaz's chief executive told Reuters in an email.

Source: International New York Times August 04, 2020 08:26 UTC