The highly publicised hostilities between Russia and Ukraine over gas deliveries appeared to have been settled this week, but with the truce come questions about the financial health of gas monopoly Gazprom.

The Russian group, considered by many to be the extended arm of the Kremlin, was already under pressure before the showdown with Ukraine. Weakened commodity prices and Gazprom's enormous debt have been like kryptonite to the once mighty titan.

As