KIEV, Jan. 27 – The National Bank of Ukraine has made the Ukrainian cabinet responsible for the further development of the situation at Kiev-based Nadra Bank, according to an open letter of the NBU to Prime Minister Yulia Tymoshenko, which is posted on the Web site of the central bank.

"The Ukrainian cabinet, initiating an appeal to Kiev District Administrative Court and its decision made on Jan. 22, 2009, has in fact deprived the National Bank of Ukraine [of the right] to fulfill the function of protecting the interests of creditors and depositors. The Ukrainian cabinet should take all responsibility for any further negative consequences of this decision," reads the letter.