It is reported that Naftogaz a state owned monopoly oil and Gas Company signed a loan agreement with Russia Gazprombank for a USD 2 billion loan.

The cost of servicing a credit line attracted for seven years will reach USD 1.54 billion. Naftogaz will raise funds through tender with one participant. The funds will be used to pay for imported Russian gas.

As previously reported, Gazprombank granted a USD 550 million loan to Naftogaz to pay for Russian gas in the end of 2011.

Source - phoenix-capital

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