Last year debt-laden Naftogaz collected far less from retail customers than it paid for dollar-denominated imports, as the hryvnia currency slumped due to political turmoil and a separatist conflict, Reuters reported.
"Ukraine was almost 100% dependent on gas from Russia and suffered losses as a result of supplies that weren't based on market conditions," the company said in a statement in which it described the period as one of "significant challenges and change".
Reforming
