The Government instructed Naftogaz to start the second round of debt restructuring negotiations

The Cabinet of Ministers instructed Naftogaz of Ukraine to immediately start the second round of negotiations with investors regarding debt restructuring. This is reported by Interfax-Ukraine with reference to its own sources.

According to the source, this is a response to Naftogaz's letter regarding approval of payments of the company's credit obligations. It was about the amount of $335 million of the loan body and €45 million of interest.

According to the source of the agency, the basis of the terms of the second round should be a similar process initiated by the Ministry of Finance.

"Foreign partners may not understand the actions by which we reduce the state debt, while payments go to private investors. And persistent attempts by Naftogaz to pay off the debt have already caused certain concerns among the state's key creditors," the government said.

The Cabinet of Ministers also believes that Naftogaz needs to maintain liquidity for gas purchases in preparation for the heating season.

"The shareholder expects that Naftogaz will follow the example of Ukrenergo and Ukravtodor, which are also starting negotiations on restructuring," the interlocutor said.

19:23 / 26 July 2022

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