Two more state-owned companies, Ukravtodor and Ukrenergo, are on the verge of technical default

27 July 2022, 11:54 | Economy
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Ukraine asks Ukravtodor and Ukrenergo investors to defer debt payment for at least 2 years. This was announced by Prime Minister Denis Shmihal.

“Ukraine offers investors in the securities of Ukravtodor and Ukrenergo to defer the payment of debts on them for at least 2 years. Now the state is consolidating all available resources for priority needs. Financing the army, preparing for the heating season, paying pensions, resuming critical infrastructure,” he explained..

Recall that on Tuesday, July 26, Natogaz Ukrainy announced the default. Default occurred on Eurobonds due to the refusal of the Ukrainian government to agree on payments.

In this regard, Naftogaz stated that since the failure to fulfill obligations under Eurobonds practically deprived the company of access to the international capital market, the Cabinet of Ministers, by banning them from paying them, actually took full responsibility for raising the funds necessary to import natural gas for the passage of the heating season 2022.

In the case of Ukrenergo, it should also be mentioned that on the eve of the war, the company reported UAH 2.7 billion in losses..



In April, the Ukrainian transmission system operator, the Ukrenergo company, received the official status of an observer member in the continental association of European operators of the system electric power grid ENTSO-E.

In June, Ukraine managed to reach agreements with the European Union on new opportunities and an increase in the export of our electricity to the EU countries. And already this week, the European Union will be able to double the import of Ukrainian electricity.




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