Ukrainian businessman Dmytro Firtash has confirmed that his Ostchem holding raised a loan from Russia's Gazprombank to buy 5 billion cubic meters of gas from Gazprom.

"Yes, we [Ostchem] have raised a loan from Gazprombank... But you need to understand that this was not a favor from Gazprombank or Gazprom. Gazprom had a choice: either they will pump [the gas], or somebody else will," he said answering a question of Interfax-Ukraine in Donetsk on Tuesday.

Firtash added that Naftogaz Ukrainy has decided to purchase only so much gas as to cover domestic needs.

"So we solved not only our, Ukraine's problem, but also that of Russia, which needed to ensure the transit," he said.

According to Firtash, all of the 5 billion cubic meters of gas purchased using the money of the Gazprombank's loan had been pumped into Ukrainian underground storage facilities as of November 1. On the whole, Ostchem has 7 billion cubic meters of gas in Ukraine's underground storage facilities.

The Russian leadership earlier reported that they sold 5 billion cubic meters of gas to Ostchem at $268.5 per 1,000 cubic meters, which is less than the price paid by Ukraine's national gas company Naftogaz Ukrainy).

Ostchem is a managing company that coordinates the strategy of six fertilizer companies belonging to Group DF of Dmytro Firtash, four of which are located in Ukraine: Stirol Concern, Severodonetsk Azot, Cherkasy Azot and Rivneazot.