Timetable for repayment agreed with Ukraine: Gazprom

Russia's energy company Gazprom says it has reached an agreement with Ukraine's Energy Minister, Yury Boyko, on a timetable for settling Ukrainian gas debt. The statement was made following talks between the two sides in Moscow.

On October 2, Gazprom declared it would cut gas supply to Ukraine if overdue costs worth more than $US 1.3 BLN were not paid off in the near future.

Kiev reacted quickly agreeing to clear the debt by next month.

Meetings between Gazprom representatives and Ukrainian officials are set to continue on Tuesday, so the two sides can sign all the necessary documents.