#Russia and #Ukraine sign deal to secure European gas flows | Financial Times

Russia and Ukraine sign deal to secure European gas flows | Financial Times:

Russia and Ukraine have struck a deal that guarantees the flow of gas to Europe for a further five years, a day before the expiry of the previous 10-year contract between their national gas companies.

The new deal closes off a potential schism between Russia and Europe while benefiting Ukraine financially.

Alexei Miller, Gazprom chief executive, said in a statement released late on Monday that the agreement between the Russian state-owned gas company and Ukraine’s Naftogaz had been reached after five days of talks in Vienna.

It is made up of a series of contracts encompassing a “large package deal restoring the interests of both sides”, Mr Miller said.