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Gazprom hikes gas price for Ukraine - in 60 seconds

1 April 2014 Last updated at 17:42 BST

Russia's state energy company Gazprom has said it is going to hike the price it charges Ukraine for gas by 40%.

At the moment, it supplies Ukraine with more than half its gas.

The move comes on top of an IMF warning that Kiev's government must reduce energy subsidies if it is to qualify for a bailout.

Amid ongoing tensions in the region, BBC News assesses the latest developments - in 60 seconds.

Video produced by Denise Hammick and Michael Hirst

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