The revolving loan provided by the European Bank for Reconstruction and Development (EBRD) to national joint-stock company Naftogaz Ukrainy to buy natural gas foresees gas purchases only on the European market under clear rules and via approved traders that passed the preliminary and final qualification, the bank has told Interfax-Ukraine.

"Gazprom was not among these traders," the bank told Interfax-Ukraine in response to the request to comment the information from Naftogaz Ukrainy Head Andriy Kobolev that there is an agreement with the EBRD to use the money to buy gas from Gazprom.

"The recent agreement we managed to achieve with the EBRD foresees that a part of the funds could be used to buy gas from the east as well," Kobolev said on June 30.

The bank added that there were no changes in the project with Naftogaz compared to the conditions when the loan was used at the end of last year and early this year.

The bank recalled that the project envisages the provision of funds and it is related to the progress on the way of reforms, in particular, the creation of the supervisory board, division of functions and this is outlined in the plan agreed with Naftogaz Ukrainy and creditors.

"If there were no progress, the process could be suspended," the bank said.