Slovakia will consider reciprocal measures against Ukraine such as halting back-up electricity supplies after Jan. 1 if Kyiv, as expected, stops the transit of Russian gas to Slovakia, Prime Minister Robert Fico said on Friday.

Slovakia may halt electricity supplies to Ukraine after Jan. 1 if Ukraine stops Russian gas transit to Slovakia. This follows Kyiv's decision against renewing a transit deal with Moscow. Slovak PM Robert Fico highlights potential economic impacts on Slovakia and the EU,

Vladimir Putin said Slovakia's prime minister offered on his recent visit to Moscow to host potential talks between Russia and Ukraine. Robert Fico made the trip as a halt to Russian gas deliveries via Ukraine beckons.

Russian President Vladimir Putin said that Russia is open to a Slovakian proposal to host peace talks with Ukraine to end a conflict he said Russia was determined to bring to a conclusion.

Benchmark European natural gas futures jumped as much as 5% in early trading Friday after Russia's President Putin said it would be impossible to reach agreement on any new transit contract for the flow of natural gas through Ukraine to Europe before year’s end.