President of Ukraine Victor Yushchenko and President of the Russian Federation Vladimir Putin agreed that Ukraine will begin paying off its debt to Gazprom since February 14.

According to an UNIAN correspondent, the Presidents claimed this to a press conference in Moscow today.

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In particular, Victor Yushchenko stressed that Ukraine will begin paying off its debts for natural gas, consumed in November-December of last year, since Thursday. The sides agreed that the price at 179.5 US dollars will be preserved in the year 2008. The President also let understand that they agreed with the current scheme of supplies.

As UNIAN reported earlier, President Vladimir Putin on Tuesday said he had accepted a Ukrainian proposal for the settling of a debt dispute over Russian gas deliveries just minutes before a deadline to cut off gas, according to Earth Times. Ukrainian President Viktor Yushchenko`s long-planned official visit to Moscow on Tuesday turned to emergency talks to avert Russian gas monopoly Gazprom cuts off deliveries to Ukraine over 1.5 billion dollars of debt claimed by the company.

"Gazprom`s offer to our Ukrainian partners has been agreed on. We hope that all arrangements will be executed," Putin told a press conference Tuesday after three hours of negotiations with his Ukrainian counterpart.