Russia’s state-owned energy giant Gazprom says it will halt gas supplies to Moldova starting on Jan. 1, citing alleged unpaid debt by the east European country.

Russian energy giant Gazprom said Saturday it would suspend gas exports to Moldova from 0500 GMT on Jan. 1 due to unpaid debt by Moldova, which is bracing for severe power cuts. It said the company reserved the right to take any action, including terminating the supply contract with Moldova.

Russia's energy giant Gazprom claimed the decision was related to Moldova's outstanding debt, not problems with transit via Ukraine.

Moldova said on Friday it will curb power exports and introduce measures to reduce consumption by at least a third from Jan. 1, as it prepares for an end to Russian natural gas supplies. The country has been preparing for potential power cuts since Ukraine said it would not extend a gas transit deal with Russian energy giant Gazprom when it expires on Dec.

Moscow, Russia's state-owned energy giant Gazprom said on Saturday it will halt gas supplies to Moldova starting on January 1, citing alleged unpaid debt by the European Union candidate country, which has brought in emergency measures as it braces for power cuts.

The Russian gas company Gazprom on Saturday said it will no longer supply natural gas to Moldova in the new year, blaming the country's alleged debts. Gazprom said the country's gas company Moldovagaz "regularly fails to fulfil its payment obligations under the existing contract,

MOSCOW (Reuters) -Russian energy giant Gazprom said on Saturday it would suspend gas exports to Moldova from 0500 GMT on Jan. 1 due to unpaid debt by Moldova, which is bracing for severe power cuts. It said the company reserved the right to take any action,