Gazprombank demands Dmitry Firtash’s Ostchem to repay its loan

Russia has another lever of gas pressure on Kiev: Gazprombank has demanded Ostchem of Dmitry Firtash to reimburse the balance of the of $842.5 million for the purchase of Russian gas and threatens to take the pledge - about 6 billion cubic meters of gas in Ukrainian underground storage facilities. If Gazprombank gets the pledge, it will become the largest owner of gas reserves in underground storage facilities of the Ukraine, and these volumes are essential for Kiev to survive the winter.

Gazprombank has officially announced that Ostchem of Dmitry Firtash is unable to repay the loan to the bank for $842.5 million and has demanded the urgent return of the funds. If Ostchem doesn’t repay the loan and the interest before December 30th, the bank is going to make a claim for repayment of the loan to the guarantor - the four largest chemical companies of Ostchem, as well as to claim the pledge - 5.7 billion cubic meters of gas in underground storage facilities in the Ukraine.