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Half of Ukraine’s payment for gas came from Gazprombank’s loan

November 09, 2011, 19:19 UTC+3
The loan was taken for one year at a rate of 8.5 percent per annum against Naftogaz Ukrainy’s earnings from gas transit
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KIEV, November 9 (Itar-Tass) —— Ukraine’s Ministry of Energy and Coal Industry confirmed that Naftogaz Ukrainy has received a loan from Russia’s Gazprombank in the amount of 550 million U.S. dollars in order to pay for the Russian natural gas imported in October.

“We have borrowed 550 million U.S. dollars from Gazprombank,” Deputy Minister of Energy and Coal Industry Vladimir Makukha told the press on Wednesday, November 9.

As a result, more than half of the 1.4 billion U.S. dollars paid for the natural gas imported in October came out of Gazprombank’s loan.

The loan was taken for one year at a rate of 8.5 percent per annum against Naftogaz Ukrainy’s earnings from gas transit.

 

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