Gazprom will receive the right to cross cancel gas debt with transit payments for nonresidents, and this particularly concerns the cross cancellation of debt with Ukraine's national oil and gas company Naftogaz Ukrainy.
A ministerial source told Interfax that Gazprom had raised the issue of cross-cancellation in a letter on Aug. 20, soon after which Russian President Vladimir Putin tasked the government with considering this possibility.
The Finance Ministry, Economic Development Ministry, Federal Service of Financial and Budgetary Oversight (Rosfinnadzor) and the Central Bank reviewed Gazprom’s letters and said it was beneficial to amend the law on currency regulation and currency control.
