KIEV, April 23 - Ukraine cut imports of Russian natural gas by half year-on-year in January-February 2012 to 6.173 billion cubic meters (bcm), the State Statistics Service reported.

Russian gas imports amounted to $2.573 billion in the two-month period, or 21.1% less year-on-year.

This significant drop in imports is connected with national oil and gas company Naftogaz Ukrayiny’s purchase of large amounts of gas at the beginning of 2011 in order to execute the Stockholm Arbitration Court's decision to return 12.1 bcm of gas to Swiss RosUkrEnergo. The reduction is also related to Ukraine's intentions to lower its purchases due to high prices.