Maybe there's still hope that the EU will actually 'bite' this time around with all the howling they continue to do. Russia's recent threats "No more cheap gas for Russia's neighbors" to increase gas prices to the Baltic States by 40% didn't come as much of a surprise here.

In a few days Russia is to commence talks over gas prices with Latvia and Estonia, and in October with Belarus and Ukraine. Lithuanian distributors have already received offers to buy Gazprom gas at $280 per 1,000 cubic meters (the current price is $190). The same price is going to apply to the other Baltic countries. Belarus is most likely to pay $125-150 for Russian gas in 2008 (it is paying $100 now). The price for Ukraine is expected to be raised to $180 from the present $130.

Currently, Russia's closest neighbors, former Soviet republics, are paying about 40-70% of the average European price. And these prices are set by the market, not by the gas monopoly.
But the EC's latest decisions were indeed a welcomed surprise.

The ban will last as long as Russia keeps closed its crude oil/gas production for the EU companies. The current laws of EU prohibit any discrimination of investors for reasons of nationality. What's more, EU cannot pursue the special economic policy in respect of Russia without jeopardizing its own principals of free economy. The draft of new energy laws of the EU will be promulgated September 19.