Representatives of Russia and Ukraine’s ministries and companies have signed a binding transit agreement to enable the flow of Russian gas across its neighbour to Europe between 1 January 2020 and 31 December 2024.

The long-awaited deal has averted a major gas supply disruption that threatened to test the stability of European gas networks during the winter period of high energy consumption.

According to statements from Russian gas monopoly Gazprom and Ukraine’s gas importer and distributor Naftohaz Ukrainy, concurrently with the signing of the document, both companies inked another agreement to drop all mutual arbitration and court claims against each other.