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Gazprombank to Lend Ukraine’s Naftogaz $550 Million, Pravda Says

OAO Gazprombank, the lending arm of Russian natural gas export monopoly OAO Gazprom, agreed to loan $550 million to Ukraine’s state-run energy company NAK Naftogaz Ukrainy to pay for imports, Ukrayinska Pravda reported.

Gazprombank agreed to provide Naftogaz with a one-year loan at 8.5 percent a year, Pravda reported, citing an official it didn’t identify in the Ukrainian government.

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