( CNN ) -- Russian energy monopoly Gazprom on Wednesday said it would stop natural gas deliveries to Ukraine over a dispute about payments . Gazprom chief executive Alexei Miller accused Ukraine of using the issue as `` a political bargaining chip . '' Gazprom chief Alexey Miller said talks with Ukraine have been `` unproductive '' and accused Ukraine of using the issue as `` a political bargaining chip . '' `` The talks with Ukraine have n't brought any concrete result ... Gazprom has n't received any money from Ukraine as payment for the supplies of Russian gas , '' Miller said in a statement on the Gazprom Web site . The state-controlled Gazprom said supplies to its other European customers would not be affected by Ukraine 's cut-off , which the company said would take place at 10 a.m. Thursday ( 2 a.m . ET ) . Ukrainian Prime Minister Yulia Tymoshenko also assured the European Union that there would be no disruptions in deliveries , the Kiev Post reported . Ukrainian President Viktor Yuschenko called `` for every effort to be made for the earliest possible signature of an agreement with Russia , '' Yuschenko energy security commissioner , Bohdan Sokolovsky , told the Russian news agency Interfax on Wednesday evening . Watch a report on Gazprom 's threats to cut off gas supplies to Ukraine » . It is the second time in three years Gazprom has threatened to cut off gas supplies to Ukraine . The company made good on its threat on January 1 , 2006 , but turned the spigots back on a day later . Russia , the world 's biggest producer of natural gas , supplies Europe with more than 40 percent of its imports -- mainly via pipelines that cross the former Soviet republic of Ukraine . Ukraine owes Gazprom about $ 2 billion for past natural gas deliveries . Ukraine 's state-controlled energy company , Naftogaz Ukrainy , initially denied it owed the payment to Gazprom , but later retreated from that claim . The Kiev Post reported Tuesday that Naftogaz said it had paid $ 1.5 billion toward the debt , but Gazprom said it had not received the payment . Also at issue is Gazprom 's contract for 2009 deliveries . Gazprom had wanted to more than double Ukraine 's payments , but on Wednesday offered a much lesser payment of $ 250 per 1,000 cubic meters of gas . Ukraine , which currently pays about $ 100 per 1,000 cubic meters , balked at that figure . `` We have heard a negative reply to the offers from the Russian side on the favorable terms of gas supply to Ukraine in 2009 , and we are getting the impression that there are political forces in Ukraine which have a strong interest in the gas standoff between our two countries , '' Miller said .
European gas giant Yulia Tymoshenko says it will cut gas supply 10 a.m. Thursday ( two a.m . ET ) Company says Soviet republic of owes it about $ 2 billion for past natural gas deliveries . Gazprom said supplies to other European customers wo n't be affected by action . Gazprom cut supplies on January 1 , 2006 , but turned spigots back on Thursday .