BRATISLAVA -- Slovak Prime Minister Robert Fico said Friday that his government may stop electricity supplies to Ukraine following the anticipated end of Russian gas transit through Ukraine on Jan. 1, 2025.

"If necessary, we will stop the supply of electricity, which Ukraine desperately needs during grid outages. Or we will agree on another course of action," Fico said in a video post on social media.

Fico's remarks come after Ukrainian President Volodymyr Zelensky expressed opposition to the continued transit of Russian gas through Ukraine to Slovakia once the current contract expires at the beginning of next year.

Fico added that according to estimates, the termination of Russian gas transit through Ukraine and Slovakia could cost the European Union 120 billion euros over the next two years. Slovakia, he said, would lose up to 500 million euros annually in transit fees.

Fico also indicated Slovakia's readiness to host peace talks on Ukraine. "If someone wants to organize peace talks in Slovakia, we will be ready and hospitable," Fico said. Fico met with Russian President Vladimir Putin on Dec. 22 in Moscow, discussing issues including the transit of Russian gas.