Ukraine will settle a debt of around $1 billion to Russian state-owned gas company OAO Gazprom (GAZP.RS) by the end of the year, Energy Minister Eduard Stavitskiy said Monday, Interfax news agency reported.

Gazprom signaled the end of a dispute over supplies and payments on Friday, after it restarted deliveries to Ukraine . The dispute had raised concerns over new disruptions to deliveries to Europe .

Ukraine had said it wouldn't buy any more Russian gas this year, which Gazprom warned could threaten flows to Europe . The Russian firm also demanded payment of a $1.3 billion bill for supplies.

Gazprom supplies one-quarter of the European Union's needs, the bulk of which flows via Ukraine . Previous tensions have led to supply cuts to Europe in 2006 and 2009.
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