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 on Friday confirmed its readiness to host peace talks between Russia and Ukraine, despite Kyiv's accusation that it is playing into the hands of Russian President Vladimir Putin.

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,

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.

Slovak Prime Minister Robert Fico announced on Dec. 27 that his government will evaluate potential reciprocal measures against Ukraine, including halting electricity supplies, if Ukraine stops the transit of Russian gas to Slovakia after January 1.

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.

President Vladimir Putin said on Thursday there was no time left this year to sign a new Ukrainian gas transit deal, and laid the blame firmly on Ukraine for refusing to extend the agreement that brings gas to Slovakia,