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Naftogaz Ukrainy to buy currency to pay for reverse-flow gas supplies

September 20, 2014, 12:02 UTC+3 KIEV
The National Bank of Ukraine’s head Valeria Gontareva said during a recent visit of the International Monetary Fund delegation it was agreed the company would buy currency from the National Bank
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ЕРА/SERGEI CHIRIKOV

ЕРА/SERGEI CHIRIKOV

KIEV, September 20. /ITAR-TASS/. Naftogaz Ukrainy will buy from the country’s National Bank in September $426 million to pay for the gas supplied from European countries, the National Bank of Ukraine’s head Valeria Gontareva said in an interview with Zerkalo Nedeli. Ukraina (Week’s Mirror. Ukraine) on Saturday.

She said during a recent visit of the International Monetary Fund delegation it was agreed the company would buy currency from the National Bank.

“This month, the company will be buying directly from the National Bank currency to pay for the received reverse-flow gas supplies,” she said. “We have sold to the company currency worth $270 million and this month we shall sell the total of about $426 million.”

Head of the National Bank said for settlement of Russian gas supplies the IMF programme “included an operation, where Naftogaz buys $3.1 billion” (Ukraine’s Prime Minister Arseniy Yatsenyuk said the company had the said amount frozen in its accounts - ITAR-TASS).

The chief banker said due to agreements with IMF, where Naftogaz buys currency from the National Bank, “a major importer was removed from the market.”

“Our market has been ‘breathing’ easier, as the big demand is not pressing it. We managed to persuade the IMF in this. But, however, this was a purely technical mission, an emergency one. The regular mission is due in October. Anyway, now they do know what questions and suggestions we have,” she said.

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