Oleh Bakhmatiuk and his Ukrlandfarming agricultural holding at the end of October sent an official offer to the Individuals' Deposit Guarantee Fund as an arbitration manager for the phased repayment of UAH 8 billion of debts to VAB Bank and Bank Financial Initiative owned by the businessman and withdrawn from the market, and on making a UAH 500 million guarantee fee.

"Then UAH 1 billion a year. This offers remains valid, and I am actively working to ensure such financing," Bakhmatiuk told Interfax-Ukraine.

He said that last week he had been actively negotiating in the Middle East, in particular with representatives of Cargill.

"I didn't run anywhere, I'm actively working," the businessman commented on reports of an alleged escape in connection with the arrests within the VAB Bank case in Ukraine that began on November 11.

Bakhmatiuk noted that in the coming days he would continue negotiations with trading companies and investors on the previously outlined program, but then he plans to return to Ukraine and will work with lawyers.

According to him, Ukrlandfarming annually produces 2.5 million tonnes of grain and under such commodity flows would be able to attract money necessary for the phased payment of debts.