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Russia, Ukraine resolve oil transit dispute

Russia, Ukraine resolve oil transit dispute

A spokesman for the Ukrainian energy company says Russia has agreed to increase fees for transit of its oil to Europe by one third.
Ukrainian state-owned oil and gas company Naftogaz's spokesman Valentyn Zemlyansky also said Tuesday that Russia has agreed to switch from dollars to euros in its fees payment.
The deal has averted a threat of shutdown of Russian oil supplies to Europe similat to a gas cutoff early this year.
Russian Energy Ministry spokeswoman Irina Yesipova confirmed that officials from the two nations have reached a deal on new terms of transit, but refused to elaborate.
Moscow warned the European Union Monday of possible disruption of oil shipments to Slovakia, the Czech Republic and Hungary, saying Ukrainian state energy company Naftogaz was seeking higher transit fees.