The Finance Ministry of Ukraine has placed temporarily free funds in the amount of $200 million provided to Ukraine by the German government via Germany's KfW (Kreditanstalt fur Wiederaufbau) Development Bank in the deposit account of state-run Ukrgasbank at 5% per annum for the period until December 1, 2015, which will help Naftogaz Ukrainy to buy gas.

"The German government has proposed that some of the funds under the KfW loan should be used to bring additional currency liquidity to the banking system. This, in turn, could help raise the required funds by Naftogaz Ukrainy at Ukrainian banks to cover the temporary cash gap caused in the necessity to buy gas," the ministry said on its website.

The ministry said that this transaction would allow Naftogaz Ukrainy to finance the program on pumping gas to its underground storage facilities in the last weeks before the start of the heating season.

The ministry said that the transaction was the first deposit transaction this year.