Ukraine and Russia host talks over gas dispute

The gas dispute between Russia and Ukraine has been set to be the prime discussion when the representatives of the two nations meet. The meeting has been scheduled as an attempt to figure out a compromise deal that would avoid disrupting the supplies of gas from Russia to Ukraine.Gazprom-Hit-Record-in-Entire-Russian-UGS-History-in-2011

Ukraine has said that it has made a payment of $786 million to Gazprom on Friday afternoon after the representatives of the two nations met in a meeting that included representatives from EU in berlin. The payment is part of the money that Ukraine owes Russia over the gas supplies and the nation has said that the first payment has been made and cleared.

Gazprom has said that the company is yet to receive the money that Ukraine claims to have paid, the three sides have agreed to meet again on Monday, just one day before the Russian State controlled company had threatened Ukraine that they will cut the supplies if the payment is not made.

Günther Oettinger, EU energy commissioner, said he hoped a deal could be struck before Tuesday. “We have not yet reached a breakthrough but we have made progress,” he said. “What is needed now is patience and a functioning bank in New York. Then the payment will be received on Monday morning.”