The European Union has delayed a $300 million loan for Ukraine’s gas transport system, RIA Novosti reports, citing Kommersant-Ukraina. Naftogaz was seeking a loan from a consortium of lenders, including the European Bank of Reconstruction and Development (EBRD), the European Investment Bank and the World Bank.
The Ukrainian state-controlled oil and gas company produces, buys, markets and transits hydrocarbons, operating at a loss, mostly due to subsidized gas prices. The European Commission is concerned that the company has retained its monopoly position in the national energy market.
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