KIEV, May 24 ??“ Naftogaz Ukrayiny, the national oil and gas company, will seek to borrow money to pay its debt of more than $400 million owed to RosUkrEnergo, a gas trader, an official said Wednesday.

The plans show Naftogaz, which heavily relied on loans last year, has been effectively unable to pay the debt for gas supplies in March and April, underscoring concerns over looming financial crunch.