Ukraine will spend gold and foreign exchange reserves on Russian and reverse gas
Kyiv, November 03 (Navigator, Vladimir Mikhailov) – All payments for gas, including reverse gas, will be made at the expense of foreign exchange reserves, Chairman of the National Bank of Ukraine Valeria Gontareva said at a briefing at the NBU.
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“We agreed with the IMF that we can make all payments that need to be made to pay for gas from our foreign exchange reserves, and the IMF will support us in this,” she said.
“Therefore, there is no doubt that all our payments that we agreed to make with Gazprom under the latest gas purchase agreement, as well as payments for reverse gas, will be made. This will have a very stabilizing effect. We have reached full understanding with the IMF that we will be able to pay for all gas purchases from gold and foreign exchange reserves, which means that the largest importer who could create an imbalance in the foreign exchange market will not enter the foreign exchange market,” Gontareva said.
Ukraine will spend its gold and foreign exchange reserves on Russian and reverse-flow gas.