Naftohaz received $500 mln from EU for purchase of Russian gas

National Joint Stock Company Naftohaz of Ukraine has received $500 million to its bank account, planning to use the money for the purchase of natural gas from Russia during the heating season.

Naftohaz chief Andrii Koboliev said at a press conference on Monday, Censor.NET reports citing UNIAN.

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"The money is already in the account of Naftohaz, a special account in a state bank. It is reserved for the purchase of gas from Gazprom," Kobolev said.

He noted that the funds would be used to purchase certain amounts of gas as and when required.

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"We will be spending the money gradually, as needed. Exactly how we did last year," said the Naftohaz head.