(Reuters] – MSCI’s emerging markets eastern Europe equity index fell by as high as 1.2% during early trading Wednesday, after Russia cut gas supplies from Poland and Bulgaria.

The index is experiencing its fifth consecutive trading session with falls. According to data from Refintiv, it is now down 15% and has been at its lowest point since 1998.

Gazprom, the energy giant (MCX) said that supplies were halted because they are not being paid back in rubles. However, clients of Gazprom continue to receive fuel according to their requirements.