Russia gives Ukraine more time to reach gas deal

Russia gives Ukraine more time to reach gas deal

June 11th, 2014 by Associated Press in Local - Breaking News

MOSCOW - Russia's gas giant has given Ukraine another week before it will start demanding prepayment for gas, without which it has threatened to cut off supplies.

Gazprom CEO Alexei Miller told Russian news agencies after Brussels-brokered talks with Ukraine in the early hours on Wednesday that the deadline will be pushed forward to next Monday.

Russia and Ukraine are negotiating ways for Kiev to clear its outstanding debts, the amount of which is being disputed. Kiev has been late with payments, prompting Russia to threaten to demand payment up front for future deliveries or it might restrict supplies.

Russia canceled price discounts for Ukraine following the ouster of pro-Russian President Viktor Yanukovych. Ukraine has been seeking a new price agreement before settling debts.