Xinhua file photos of Russian President Vladimir Putin (R) and Ukrainian President Volodymyr Zelensky

Russia and Ukraine have signed a package of documents extending Russian gas transit to Europe via Ukraine for five years, Russia's gas giant Gazprom said in a statement late Monday.

"After five days of continuous bilateral negotiations in Vienna, final decisions were made and final agreements reached," Gazprom CEO Alexei Miller said in a statement.

"Gazprom has done everything possible and once again confirmed that it is a responsible supplier and a reliable partner," he added.

Under the agreement, Russia will ship through the Ukrainian gas transportation system a total volume of 225 billion cubic meters of gas in the next five years, including 65 billion cubic meters next year and 40 billion cubic meters each year from 2021 to 2024.

Gazprom and Ukraine's state-run energy company Naftogaz have signed a settlement agreement, which recalls all arbitration and legal claims against each other related to previous gas transit contracts and Gazprom agreed to pay 2.9 billion U.S. dollars in compensation to Naftogaz, according to a ruling of the Stockholm Arbitration.

Gazprom and the Ministry of Justice of Ukraine have signed an amicable settlement agreement, which provides for the termination by the Antimonopoly Committee of Ukraine of all current and possible future demands to Gazprom.

"The certainty of future gas transit creates a necessary environment for continuation of the domestic gas market and broader energy reforms, secures gas transmission jobs and future contracts with Ukrainian industrial producers related to the maintenance of the Ukrainian gas transmission system," Naftogaz said in a statement late Monday.

Last week, Ukrainian Energy and Environmental Protection Minister Oleksiy Orzhel said in an article that Ukraine will receive around 15 billion U.S. dollars in revenues over five years of Russian gas transit.

Ukraine is a key transit route for Russian gas to Europe. The current gas transit contract between Naftogaz and Gazprom that expires on Dec. 31, 2019 had threatened to disrupt supplies to Europe.