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16:03
NAFTOGAZ BUYS SERVICES IN DEBT RESTRUCTURING AND FUND RAISING IN LINE WITH UKRAINIAN LAW, SAYS PREMIER

Kyiv, July 30 (Interfax-Ukraine) – Ukrainian Premier Yulia Tymoshenko has denied that national JSC Naftogaz Ukrainy violated the law during its purchases of financial services.

"The services in debt restructuring currently being rendered to Naftogaz, and everything being done regarding the raising of credit funds for the holding, is being done strictly within the confines of Ukrainian law," Tymoshenko said at a press conference in Kyiv on Wednesday.

"We hold tenders when we should hold them. If there are no bids, but there are separate agreements, we work with a particular service provider" she said.

As reported, recently the government permitted Naftogaz Ukrainy to buy financial services outside the standard state purchase mechanism and instructed it to consider restructuring its foreign debt.

It has been reported that the Cypriot office of Britain's Square Capital, which is allegedly affiliated with representatives of the Finance Ministry and is one of the advisors to the premier, could become an advisor to the state holding, although Tymoshenko denied this.

Bohdan Sokolovsky, the president representative for international energy security issues, again called on the government and Naftogaz Ukrainy to stop alleged secret talks that have been held since January 2009 with Russia's Troika Dialog Squire Capital and their branches located in Cyprus on the issue of credits to Naftogaz Ukrainy and the restructuring of its debts.

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