KIEV, April 25. /TASS/. The end of Russian gas transit via the territory of Ukraine will increase the possibility of a conflict between Russia and Ukraine and entail futher geopolitical consequences, the commercial director of Ukraine’s oil and gas company Naftogaz said.

"If there is no transit via the territory of Ukraine, the possibility of a full-fledged conflict between Ukraine and Russia also increases, which will have geopolitical consequences. This is the idea that we are trying to convey, first of all to European partners, who need to understand not only economic consequences for Ukraine, but also geopolitical consequences for the entire world," Yuri Vitrenko was quoted as saying by the 112 Ukraine TV channel on Tuesday.

Gazprom Deputy CEO Alexander Medvedev said on Tuesday that the contract with Ukraine after 2019 will not be renewed under any circumstances but this does not mean that the transit of gas will be stopped. He said Gazprom was waiting for Ukraine’s "appropriate proposals," including on economic terms of the transit.

Gazprom CEO Alexei Miller told reporters that the company is ready to hold negotiations with Naftogaz of Ukraine on gas transit after the expiration of the current contract. But Ukraine should ground economic feasibility of the transit, he added. Miller also said that if Ukraine proves the economic feasibility of the new contract Gazprom may maintain the volume of gas transit via Ukraine at 10-15 bcm a year.