Natural gas supplies will resume to Europe on Tuesday following an announcement from Russia's state-run monopoly Gazprom.

Gas supplies are expected to restart at 0700 GMT (2 a.m. EST) if according to Gazprom deputy chairman Alexander Medvedev, there are no obstacles.

The shift came after Ukraine signed off on an EU-brokered deal that sent teams of EU, Russian and Ukrainian monitors in to track the movement of Russian gas through Ukraine's vast pipeline system. Gazprom had shut off deliveries last Wednesday, accusing Ukraine of siphoning off gas intended for Europe, a charge that Ukraine denies.

According to Russian prime minister, as soon as the monitors are in place at the control points to monitor the flow of gas, the supply would resume.