Ukraine has agreed to all terms and conditions of settling its debt for gas proposed by Russia, but, considering that it does not have enough money, the European Commission could help resolve the problem by allocating this money to Kyiv, Gazporm CEO Alexei Miller said.

"As of today, Ukraine has agreed that the first tranche of $1.45 billion must be paid before the beginning of supplies," Miller told journalists following negotiations in Milan on Friday.

"It has agreed that the sum of $3.1 billion must be cleared by the end of the year," rather than by the end of the first quarter of 2015, on which it insisted earlier, Miller said.

Ukraine has also agreed to buy Russian gas at $385 per 1,000 cubic meters, he said.

However, while Ukraine does not have funds to pay for the current gas supplies, "the ball is in the European Commission's court," he said.

"This could be a bridge loan, or the transfer of the IMF tranche to December from January," he said.