March 5 (Bloomberg) -- Prime Minister Vladimir Putin threatened to cut Russian gas flows to Ukraine, the main transit route for a quarter of Europe’s supply, in two days if February supplies aren’t paid for.

“If, as a result of the use of the security services and the arrest of company officials, the payment isn’t made, it will lead to a stoppage of our deliveries,” Putin said during a government meeting broadcast on state television today.

OAO Gazprom, Russia’s gas exporter, said today it has received $310 million of the $360 million that Ukrainian state energy company NAK Naftogaz Ukrainy owes for February. Naftogaz has until March 7 to pay the rest under a contract the two sides signed in January.

“The pending $50 million will be accumulated and sent to Russia either today or tomorrow,” Ukrainian Deputy Chief of Presidential Staff Oleksandr Shlapak said by e-mail.

Ukraine’s state security service yesterday raided Naftogaz’s Kiev offices as part of a probe into company’s acquisition of 7.4 billion hryvnias ($884 million) worth of gas meant for shipment to Europe. The security service failed today to enter the offices of Naftogaz’s pipeline unit DK UkrTransGaz.

“They wanted to get in and get access to documents but we prevented them,” Naftogaz spokesman Ilya Savvin said by phone.

Gazprom and Naftogaz signed accords on Jan. 19 that ended a dispute that disrupted deliveries from Russia via Ukraine to the European Union for about two weeks. Moscow-based Gazprom reduced deliveries to Ukraine by half last March because of nonpayment.

To contact the reporters on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

Last Updated: March 5, 2009 08:42 EST