Gazprom has suspended foreign borrowing – in pounds, euros and yen – for fear that funds raised could be frozen as part of the Russian company’s dispute with Ukraine’s Naftogaz

Gazprom has suspended foreign borrowing – in pounds, euros and yen – for fear that funds raised could be frozen as part of the Russian company’s dispute with Ukraine’s Naftogaz, Reuters reports from London and Moscow. Last spring, Gazprom refused to comply with a Swedish arbitration ruling ordering it to pay $2.6 billion to Naftogaz. In response, Naftogaz lawyers took legal actions across Europe to seize Gazprom assets. Although Gazprom faces repaying $15.2 billion in external debt this year, the state company has called off foreign bond sales, two London-based bankers told Reuters.