(QHA) -

Russia and Ukraine have agreed on Russian gas supplies to Ukraine for the month of March, averting possible cuts that could have hit supplies to the European Union.

The agreement comes a day after EU-mediated talks in Brussels involving Russian Energy Minister Alexander Novak and his Ukrainian counterpart Volodymyr Demchyshyn.

After the talks, the two sides agreed that Naftogaz would continue to pay in advance for deliveries for domestic consumption in Ukraine and guarantee uninterrupted transit to the EU. However, shipments to Donetsk and Luhansk that haven’t been authorized by Naftogaz won’t be subtracted from those advance payments and instead will be resolved separately.

“This will be the subject of special volume verification and negotiations,” Mr. Novak said in his Twitter statement.

Moscow threatened to turn off the taps to Ukraine on March 3 unless it received outstanding pre-payments, as agreed in a deal last October.

QHA