Ukraine Ready To Settle Russia Gas Debt by Year-End - Report - WSJ.com

Ukraine Ready To Settle Russia Gas Debt by Year-End - Report - WSJ.com:

"Ukraine will settle a debt of around $1 billion to Russian state-owned gas company OAO Gazprom (GAZP.RS) by the end of the year, Energy Minister Eduard Stavitskiy said Monday, Interfax news agency reported.

Gazprom signaled the end of a dispute over supplies and payments on Friday, after it restarted deliveries to Ukraine. The dispute had raised concerns over new disruptions to deliveries to Europe.

Ukraine had said it wouldn't buy any more Russian gas this year, which Gazprom warned could threaten flows to Europe. The Russian firm also demanded payment of a $1.3 billion bill for supplies.

Gazprom supplies one-quarter of the European Union's needs, the bulk of which flows via Ukraine. Previous tensions have led to supply cuts to Europe in 2006 and 2009."

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