As Russian and EU leaders met on 9-10 June in Nizhny Novgorod for the twice-yearly summit, avoiding the risk for another winter gas dispute with Ukraine was likely to be discussed between Brussels and Moscow. It’s no secret that Kiev wants to re-negotiate the terms of the gas formula agreed by Ukraine’s previous administration. However, earlier last week, Russian Prime Minister Vladimir Putin said that Moscow will not change the gas agreement it has with Kiev. The problem for Ukraine is that the deal linked the gas price to the oil market and, based on the current oil price trend, it’s facing a possible price of $500 per 1,000 cubic meters in the fourth quarter, said Chris Weafer, chief strategist at Moscow’s Uralsib bank. The first quarter average price was $264.30. READ MORE

The presidents of Estonia and Lithuania met this weekend to discuss cyber and energy security. READ MORE

Created for the purely practical purpose of settling border disputes between China and the former Soviet republics in Central Asia, the Shanghai Cooperation Organization has evolved into a major regional and global political player since its founding 10 years ago. READ MORE

“It is certain that Poland is one of the most pro-American countries in Europe, only that the temperature of that pro-Americanism has fallen,” said Radoslaw Sikorski, Poland’s foreign minister, in an interview with the Rzeczpospolita newspaper this week. READ MORE