Last month’s end run around the Naftogaz Supervisory Board to install a new CEO “makes it very difficult for us to continue to support the company,” EBRD President Odile Renaud-Basso

told Bloomberg yesterday in Warsaw. Under the headline, “Shock CEO Ouster Pushes Ukrainian Gas Giant’s Backer to Brink,” Bloomberg writes: “The EBRD, along with the World Bank, is a key international backer of Naftogaz, helping to give one of Ukraine’s largest companies more financial heft as well as bond-market credibility.”