Russian President Vladimir Putin is not ruling out the option of concluding a one-year contract for transit of Russian natural gas to Europe if Ukraine is unable to introduce European legislation before 2020. This is stated in a report by the RBK publication (Russia), the Ukrainian News Agency reports. Putin said there were two scenarios for a new gas transit contract. According to Putin, Russia is ready to work within the framework of European legislation, and it is willing to sign a transit contract with Ukraine within the framework of European legislation if Ukraine is able to implement European legislation before the end of the year. "If they do not have sufficient time, we will sign a one-year contract with them," Putin said. As Ukrainian News Agency earlier reported, the Naftogaz of Ukraine national energy company’s Executive Director Yurii Vitrenko has once again stated that it is necessary to prepare for discontinuation of transit of Russian gas from 2020. Russia raised the issue of the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (Sweden) during Ukraine-Russia-European Union trilateral talks on transit of Russian natural gas in Brussels (Belgium) recently. Russia also confirmed its willingness to abide by the European Union’s rules when concluding a new contract for transit of natural gas. Ukraine stated that it aimed to reach agreement with the European Union and Russia on a 10-year contract for transit of up to 90 billion cubic meters of natural gas per year during the trilateral talks.