BRUSSELS - The funds are planned to be lent by European financial institutions for Ukraine to buy Russian gas may not be enough if the winter turns to be cold, Gazprom Chief Execuive Officer Alexei Miller said.
‘They have mentioned sums up to $800 million (in addition to already decided $500 million). But this isn’t enough. And in case of an abnormally cold spell, the money will vanish within 2.5 weeks,’ he said.
‘At the moment Naftogaz (of Ukraine) has got $500 million, borrowed from Ukrainian state banks. This debt is expected to be refinanced through financing being arranged by the European Commission. And a new tranche worth $500 million from the World Bank is expected to arrive only next year, in January,’ he added.
