The European Union"s executive body on Tuesday praised Russia"s use of an early-warning mechanism to prevent another stoppage in oil shipments to the EU as has happened at the New Year in the past, according to dpa. EU Energy Commissioner Andris Piebalgs said he was pleased that Russian officials on Monday formally warned the EU of a potential cut-off of oil supplies sent to Western Europe via Slovakia at the end of 2009, if a new oil shipment contract between Kiev and Moscow was not signed. "I am also very glad to note that the Russian and Ukrainian sides have meanwhile found an agreement avoiding a disruption of oil supplies to the EU," Piebalgs added. The European Commission had received an official confirmation from Moscow that a delivery stop would not take place, he said. His remarks came after Russia and Ukraine earlier Tuesday announced they had resolved a dispute over oil transit issues, and fuel will flow uninterrupted after the New Year. Negotiators for the two former Soviet republics agreed on a 30 per cent hike to transit fees paid by Russia for shipment of oil through Ukrainian pipelines during 2010.
