The FINANCIAL — President Viktor Yuschenko will back the Naftohaz Ukrainy national joint stock company to avoid losses of its assets the company might incur after Russian Gazprom provides advance payment for gas transit, the president's press-service said.
Speaking in an interview with the Sprava newspaper Yuschenko has expressed concern over Naftohaz Ukrainy financial performance caused by the Ukrainian – Russian gas contracts.
Yuschenko said he would use all possible constitutional power to ease the situation around Naftohaz Ukrainy.
Macroeconomic figures calculated for the 2009 state budget are in disagreement with real economic tendencies revealing recession in basic industries, Yuschenko said.
In this connection, the President believes the 2009 state budget is unable to respond to the challenges of the economic crisis the county is hit by.
As Ukrainian News reported, President Viktor Yuschenko is concerned that the Naftohaz Ukrainy national joint-stock company may lose a part of its assets after the Russia's gas monopoly, Gazprom, provides advance payment for gas transit.
The Naftohaz Ukrainy national joint-stock company rules out losses originating from receiving advance payment from Russia's Gazprom gas monopoly for the gas transit services which will be used to fund the pumping of gas underground repositories.
Naftohaz Ukrainy and Gazprom are working on a mechanism for Ukraine to pay for natural gas to be pumped into its underground gas storage facilities against part of funds to be charged for the transit of natural gas through the Ukrainian gas transportation system.
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