There was cautious optimism last night that Russian gas will begin flowing into Europe again next week following agreement on monitors in both Russia and Ukraine.

A team of energy experts assembled by the European Commission arrived in Kiev today to begin work monitoring gas flows from Russia to the EU via Ukraine.

Russia’s natural gas monopoly warned Belarus today not to siphon gas from the main pipeline leading across its territory to Europe if it goes ahead with a threatened supply cut-off on New Year’s Day.