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Ukraine to Continue Gas Transit to Europe As Long As It Is Technically Possible, - Head of Naftogaz

The Ukrainian side is in control of gas transit, Gazprom uses contracted capacity.

Ukraine to Continue Gas Transit to Europe As Long As It Is Technically Possible, - Head of Naftogaz

Ukraine will continue the transit of Russian natural gas until it is technically possible, but proposes to freeze funds from its sales on escrow accounts until the Russian troops are withdrawn from Ukraine.

This was announced by the chairman of the board of the state-run energy company Naftogaz Ukrayiny Yuriy Vitrenko on Bloomberg.

"It has now been decided that while it is technically possible, we will continue the transit of Russian gas," Vitrenko was quoted as saying by Interfax-Ukraine.

Vitrenko noted that he could not disclose details of political discussions with the Ukrainian President Volodymyr Zelenskyy, Russia and the European Union, but as the company's CEO he must ensure uninterrupted transit as long as there are technical possibilities.

The chairman of the board of Naftogaz added that Russian troops in Ukraine are very cautious about the transit gas infrastructure, although they do not spare the distribution infrastructure. "Therefore, it is obvious to us that they do not want to harm their own commercial interests and their commercial relations," Vitrenko said.

According to him, there were attempts by Russia to interfere in the work of three compressor stations in eastern Ukraine, but after warning about the risks of such actions for transit, "Russian troops began to behave differently." "But they are still close, so the situation is far from normal," said the chairman of the board of Naftogaz.

He confirmed that the Ukrainian side now fully controls the transit of gas, and Gazprom uses the contracted capacity.

Vitrenko clarified that payment for transit is made in hard currency - euros and dollars. "Unfortunately, financial sanctions against Russia contain a number of very important exclusions for banks such as Gazprombank and Sberbank. That is why large Russian companies can still use their accounts in the West to raise money from oil and gas exports. And that's why we say that this should change, "said the chairman of the board of Naftogaz.

He noted that even if Europe cannot immediately get rid of its dependence on Russian hydrocarbons, the Putin regime should not be allowed to receive money for them. Money should be accumulated in escrow accounts, which will be accessible only after Russian troops withdraw from Ukraine.

Vitrenko also said that Europe should not be afraid of some increase in the price of hydrocarbons due to the refusal to supply them from Russia, as this price will still be lower than the price Ukraine and humanity pay for the barbaric invasion of Russia.

"That is why we say that Europe must end its dependence on Russian gas and oil as soon as possible. And this is possible even in the short term," said the chairman of the board of Naftogaz Ukrainy.

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