The strained relationship between Ukraine and Russia over gas is unlikely to be fully resolved any time soon, says Alfa, following news Ukraine plans to lower its Russian gas imports by one-third next year. "The threat of another breakdown in relations will likely continue to keep both Gazprom's (GAZP.RS) and Russia's risk premium elevated for the coming year," says Chief Strategist Ron Smith. Keeps Gazprom at over weight with $27.0 target price. ADRs in London +1.5% at $21.6. (JGP)