Thursday, 18 August, 2022

Ukrainian energy giant defaults on debt

Ukraine’s state-run energy company Naftogaz has defaulted on its foreign debt, the firm announced on Tuesday.

Naftogaz was unable to make payments on Eurobonds before a grace period expired, the company said a statement on Telegram, adding that it “has not received consent from the cabinet of ministers of Ukraine to make the necessary payments", reports RT.

The Ukrainian government earlier prohibited payments, due on July 19, on its Eurobonds maturing in 2022 and 2024.