KIEV, Sept. 28 – The European Commission will provide $500 million to Ukraine for the purchases of Russian gas until the end of 2015.

"The European Commission continues its efforts towards organixing, through European and international financial institutions, the necessary financing for gas purchases by Ukraine during the winter period, as part of which at least $500 million should be available by the end of this year," reads a press release of the European Commission issued on Saturday.

Commenting on the results of the trilateral meeting on Friday, European Commission Vice President in charge of Energy Union Maros Sefcovic said: "The agreement on the terms of the new Winter Package is a crucial step towards ensuring that Ukraine has sufficient gas supplies in the coming winter and that there is no threat to the continued reliable gas transit from Russia to the EU. The initialising demonstrates that both parties live up to their roles as reliable partners in the gas business. I am confident that the agreement will be soon confirmed and smoothly implemented for the benefit of all parties concerned."