Ukrainian Journal reported that Naftogaz Ukrayiny borrowed USD 550 million from the banking arm of Russian gas giant Gazprom to pay for October gas supplies.

Ekonomichna Pravda, the website, also published what it said were leaked Naftogaz and Gazprombank letters regarding the one-year loan.

The letter said to come from Naftogaz says the company needs the loan due to the deficit of working capital. The other purported document shows Gazprombank saying it is ready to extend the loan at 8.5% secured by Naftogaz' transit revenues.

(Sourced from www.ukrainianjournal.com)