Jan 2, 2008

Ukraine's Naftogaz on the brink of bankruptcy

Ukraine's state gas monopoly Naftogaz is on the brink of bankruptcy, premier minister Yulia Tymoshenko told Interfax following a meeting with the group's new head, Oleg Doubina. Doubina estimates that losses have doubled to U.S. $1 billion in 2007 from a year earlier.

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