Europe Hoping for Russia-Ukraine Gas Deal Next Week

Russia and Ukraine failed to strike an interim gas deal in Brussels on Tuesday, with both sides holding out for guarantees on payment and price.

European Union negotiators, however, are hoping for an agreement next week.

After hours of talks, efforts to resolve a natural gas pricing dispute between the neighboring countries proved fruitless, but there was at least a draft accord.

Russia's state-run company Gazprom stopped gas deliveries to Ukraine earlier this year over a pricing and debt disagreement, amid an ongoing insurgency by pro-Russian separatists in eastern Ukraine.

The fighting has also sunk European and Russian relations to lows not seen in years. Moscow denies any role in the insurgency.