MOSCOW, Nov. 22 (UPI) -- Russia's energy giant Gazprom announced Saturday it will not continue to make gas deliveries to Ukraine in the absence of a new contract.
Gazprom spokesman Sergei Kupriyanov said he would like to avoid cutting off gas supplies to Ukraine, RIA Novosti reported.
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"There is still time to reach an agreement," he said. "As soon as the debts are paid, we are ready to sign direct contracts."
On Friday, Gazprom announced Ukraine had $2.4 billion in outstanding debt for gas supplies.
Responding, Ukrainian President Viktor Yushchenko ordered payment of the country's debt to Russia for natural gas supplies within five days.