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. Last Updated: 07/27/2016

Moldova Gas Price Up 45%

CHISINAU, Moldova -- Moldova has signed a new deal with state-owned energy giant Gazprom, the Moldovan government said Monday.

Under the deal, Moldova will pay $160 per 1,000 cubic meters of natural gas starting on July 1.

Moldova initially refused a similar offer from Gazprom in January, and the Russian company cut off the supply for several weeks until a tentative deal was reached. For the first six months of 2006, Moldova paid $110 per 1,000 cubic meters of gas.

Moldovan President Vladimir Voronin has accused Russia of using its gas monopoly to punish former Soviet countries like itself, Georgia and Ukraine, which have moved to establish closer ties to the West. Moldova paid $80 per 1,000 cubic meters last year.

(AP, Bloomberg)