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Ukraine energy giant Naftogaz defaults on foreign bonds

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On July 26, state-owned gas giant Naftogaz missed the deadline to pay off $335 million in principal and interest payments as well as a separate interest installment of 45 million euros on another bond after creditors refused to postpone payments on the bonds for two years. A default on bonds "deprives Naftogaz of access to the international capital market," according to the company's statement. As a result, the government will have to take “full responsibility for raising the funds needed to import natural gas for the upcoming heating season.”

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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