Energy Minister Eduard Stavytskyi has announced that Ukraine and Russia have reached a compromise on the issue of payment for natural gas and its purchase, the website reports.

According to the RIA Novosti news agency, Stavytskyi said that the Naftogaz of Ukraine national joint-stock company’s debt for the natural gas that was consumed in August and October amounted to about USD 1 billion and that it will be repaid by the end of 2013. He also confirmed that Naftogaz of Ukraine has resumed gas purchases from Russia and that it no longer intends to stop purchasing Russian gas, at least during the heating season.

"Compromise decisions have been reached that will allow Ukraine to make timely payments under the new schedule that was signed for the natural resources that we are receiving and, at the same time, meet the needs of all our partners in terms of the supplier of natural gas - and that is Gazprom - and in terms of transit to Europe,” said Stavytskyi.

As reported, Stavytskyi said last week that Naftogaz of Ukraine had met its annual target for purchase of Russian gas and that it would no longer buy Russian gas. However, it was reported on Friday that gas supplies had resumed. The Kommersant-Ukraine newspaper reported on Monday that Gazprom had granted Naftogaz of Ukraine deferment of payment of its gas debt.