BERLIN -- Russia and Ukraine have a "good chance" of striking a deal to resolve a standoff over Russian gas deliveries to Ukraine by June 1, European Energy Commissioner Guenther Oettinger said Monday.
"We made relatively good progress and have a good chance of reaching an agreement by June 1," said Oettinger after a Berlin meeting with Russian Energy Minister Alexander Novak and his Ukrainian counterpart, Yuri Prodan.
Under a proposed deal, subject to approval in Kiev and Moscow, Ukraine would pay $2.5 billion to Russian energy giant Gazprom (IW 1000/16) in coming days and weeks -- about half the amount Russia says it is owned in back payments and for the month of June.
Oettinger said the goal was to ensure "security of supply" and "to avoid disruptions," adding that aid from the EU and International Monetary Fund would help Ukraine pay its debt, provided both Moscow and Kiev agree to the deal.
"We make it possible, but the decision will be made in Kiev," said the German EU commissioner.