Companies & Finance

Gazprom suspends borrowing plans

Gazprom has suspended plans to borrow money from Western banks via London.
By Staff reporter 7 August 2018 0 32057

Russian major Gazprom has suspended plans to borrow money from Western banks via London after London’s Commercial Court gave Ukrainian energy company Naftogaz Ukrainy permission to freeze Gazprom’s assets in the UK.

The news was reported on Monday by Reuters, which quoted anonymous sources.

“The British verdict is likely to have spooked Western banks that traditionally work with Gazprom because it raises the possibility that any new funds the company might raise via London could also be frozen,” one of the sources said.

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