Norway's Minister of Finance Trygve Slagsvoll Vedum signed an agreement to provide Ukraine with financing in the amount of NOK 2 billion ($195.2 million at the current exchange rate) for the purchase of natural gas next winter.
According to a message on the Norwegian government's website, the funding will be sent through the European Bank for Reconstruction and Development (EBRD). On behalf of the bank, the agreement was signed on Monday in Oslo by its first vice-president Jürgen Rigterink.
"Ukraine has turned to Norway for support in purchasing natural gas this winter. Time is of the essence, and we are very pleased that the EBRD will be our partner in gas purchases. It is important to channel support through a reputable, internationally recognized organization that will ensure efficient and transparent use funding," said Trygve Slugsvold Vedum.
According to the report, the formal recipient of gas in Ukraine will be Naftogaz of Ukraine. In practice, payments will be made directly to pre-approved European gas suppliers who will be billed for the volume they supply.
"As winter approaches in Ukraine, Russia is using energy as a weapon and striking critical infrastructure in an attempt to break Ukraine's resistance. Russia's actions are serious violations of international law and are causing serious suffering to the people of Ukraine. That is why Norway's support in providing energy is vital for Ukraine ", said the Minister of Foreign Affairs of Norway, Anniken Huytfeldt."