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Alexei Miller, the head of Russia's top natural gas producer Gazprom, said on Monday that the company has postponed moving to prepayment mode for gas supplies to Ukraine to June 9 after Kiev started reducing its debt.
Gazprom also confirmed that Ukraine redeemed $786 million of gas debt. The Russian state-controlled company had warned earlier it may halt gas supplies to Ukraine on June 3 if Kiev fails to pay off its gas debt in full.
Miller also said that Ukraine should pay for May gas deliveries before June 9 and that switching to prepayment would depend on Kiev's full redemption of the $2.24 billion of debt for gas supplied before April 1.
Gazprom has threatened to cut off gas supplies to Ukraine if Naftogaz fails to pay some of its $3.5 billion debt for imported gas.