KIEV, Aug. 5 – Prime Minister Yulia Tymoshenko’s government on Tuesday revoked its proposal to Vanco Prykerchenska, a joint venture led by U.S. oil company Vanco Energy, to hold talks to try to settle their license dispute.

The development suggests it is now unlikely that the dispute will be settled amicably through talks as the parties are heading towards a clash in an international court of arbitration in Stockholm.