Rada approves debt agreement with Ukrnafta



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Rada approves Ukrnafta debt deal

Photo: Verkhovna Rada press service

Rada adopted a bill on the debts of Ukrnafta

Parliament allowed debts to be settled with budget funds and the tax difference is used to combat COVID-19.

At a meeting on Tuesday, November 17, the Verkhovna Rada adopted a bill on amendments to the state budget for 2020 with 283 votes, which provides for the payment of Ukrnafta’s debts of 30.35 billion hryvnias.

According to the law, at the beginning Naftogaz will receive from the government 32.3 billion hryvnias of compensation for the supply of gas under the terms of the JI, it recognizes this compensation as income, on which income tax will be charged for an amount of 5.95 billion hryvnia.

After that, Naftogaz will pay Ukrnafta for 2.06 billion cubic meters. m of gas 15.1 billion hryvnia and an advance for gas from future production (24.1 billion hryvnia).

With these funds, Ukrnafta should pay UAH 30.35 billion of debts.

Thus, the volume of income to the special fund of the state budget will amount to 42.5 billion UAH. In the case of deducting 32.2 billion UAH of compensation that Naftogaz should receive, a carryover of 10.3 billion UAH arises.

This amount will be used to finance the Fund to Fight COVID-19 (amounting to 8.9 billion UAH) and to finance the costs of restructuring the coal industry (amounting to 1.4 billion UAH).

Earlier, the media wrote that Ukrnafta’s debt, which had accumulated for 15 years, would be paid at the expense of the Ukrainians – 428 hryvnia each.

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