The State Service for Geology and Deposits has suspended licenses of public joint-stock company Chornomornaftogaz for the Shtormove and Odeske fields over the debt for paying royalties in the amount of over UAH 23 million, the agency has said on its website.

"The State Fiscal Service asked to suspend the license over the royalty debts of Chornomornaftogaz. The State Service for Geology and Deposits was obliged to suspend the licenses," the agency said.

The authority said that they are not annulled, they are still valid.

As reported, late March 2017 Ukraine's Verkhovna Rada at first reading passed bill No. 5370 which will impose a moratorium on the collection of a debt from public joint-stock company Chornomornaftogaz until January 1, 2019.

In March 2014 after Russia occupied Crimea Chornomornaftogaz lost access to its production facilities and gas fields on the peninsula and Black Sea shelf.

At present, the company is registered in Kyiv. It is trying to resume operations. The company is restoring lost documents and creating the evidence base for international proceedings against Russia.