AlHijjah 06, 1435, September 30, 2014, SPA -- Russian Energy Minister Alexander Novak said on Tuesday he hoped Moscow and Kiev would this week settle their differences over a timetable for Ukraine to pay its natural gas debts to Russia, Reuters reported. Russia stopped gas flows to Ukraine in June in a standoff over the gas price with its neighbouring former Soviet republic, through which Europe receives about half of its gas imports from Russia. After several rounds of talks brokered by the European Union, Moscow and Kiev reported progress at a meeting last week in Berlin. Novak reiterated that Kiev must repay at least part of its $5.3 billion gas debt before Russia's state-owned gas producer, Gazprom, resumes gas supplies to Ukraine. "It is a matter of principle for us that a part of the debt should be redeemed before the supply starts," Novak told reporters during a visit to the Kazakh city of Atyrau with Russian President Vladimir Putin. He also said Ukraine was ready to pay $3.1 billion of the debt but the timetable for the payment, and the price, were yet to be agreed. Moscow wants Kiev to pay in two tranches - $2 billion before the gas flows restart and $1.1 billion by the end of this year. Novak said Ukraine wanted to pay in three tranches of $1.5 billion, $0.8 billion and $0.8 billion and wanted to make the payments only after gas flows resume.
