Energy ministers of Russia and Ukraine have adjourned until Thursday their talks in Moscow on a huge price hike sought for deliveries by Russia's state-run natural gas company, Gazprom.

Ukrainian Fuel and Energy Minister Ivan Plachkov and his Russian counterpart, Viktor Khristenko met late Wednesday and agreed to continue discussions. After the meeting Mr. Plachkov said he believes a compromise is possible.

The Gazprom is threatening to cut natural gas supplies to Ukraine on January 1 if no deal is reached.

Ukraine's Prime Minister Yuriy Yekhanurov has rejected Gazprom's plans to more than quadruple natural gas prices, calling it an unacceptable move aimed at putting direct economic pressure on Ukraine.

Mr. Yekhanurov told officials in Kiev his country will take all necessary legal steps if the dispute is not resolved.

Some information for this report provided by AP and AFP.