KIEV, Oct. 1 – The Cabinet of Ministers has proposed that Parliament grant Naftogaz Ukrayiny, a state monopoly, with UAH 3.9 billion ($490 million) in direct budget financing instead of replenishing its charter capital with OVGZ domestic bonds of the same value in 2012.

These funds might be issued to Naftogaz as compensation for the difference between the procurement cost of imported Russian gas and the tariff at which the state-owned holding sells it to utilities enterprises.