Naftogaz's accounts have funds to make payments on Eurobonds, in addition, the company is aware of the consequences of a default in case of violation of payment obligations, but has not yet received approval from the Cabinet of Ministers for appropriate actions. An explanation of the current situation is posted on the Naftogaz website..

" At the time of this press release, Naftogaz has not received the approval of the Government, and, accordingly, cannot transfer funds for payments to bondholders..

At the same time, Naftogaz is preparing attempt number two to defer payments.

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Naftogaz recalled that the proposal to defer payments on Eurobonds was due to the government's position to direct these funds to gas imports. But was not supported by Eurobond holders.

Therefore, the existing terms of the Eurobonds remain in effect and the corresponding payments of principal and interest are due to the bondholders on 26 July 2022 (within the documented period for correcting violations).

Recall that the creditors did not agree to the debt restructuring requested by Naftogaz, since they believe that the company is profitable. This, in particular, shows the reporting of the company.

Previously, the NAC did not say anything about the fact that the proposal for restructuring was the idea of \u200b\u200bthe Government. The company claimed that customers do not pay bills and asked creditors to freeze debt for UAH 1.5 billion.

Now, according to the new version, if the Cabinet of Ministers does not agree to payments on bonds, there are several hours left before the default of Naftogaz.