Russia slashes gas flow by 25%

Russia's gas monopoly Gazprom yesterday reduced supplies to Ukraine by a quarter, just hours after its chairman and Kremlin candidate Dmitry Medvedev won Russia's presidential election.

Gazprom pledged its exports to Europe would not be affected. A quarter of Europe's gas supplies pass through Ukraine.

Gazprom has often threatened to cut gas supplies during previous pricing disputes with former Soviet neighbors Ukraine and Belarus, but the threat is materializing only for a second time after the landmark cut in the New Year of 2006.