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Finance minister rejects $1 billion bail-out of Naftogaz Ukrayiny
Journal Staff Report

KIEV, July 5 – Finance Minister Viktor Pynzenyk on Wednesday rejected a request from Naftogaz Ukrayiny, the national oil and gas company, for a $1 billion bail-out aimed at reducing debts and avoiding gas shortages.

The government’s refusal to provide the cash would probably put pressure on Naftogaz to borrow more money internationally that would further increase debt burden on the company.




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