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March 2, 2007 / 10:57 AM

Boyko denies Naftohaz Ukrayiny bust

KIEV, Ukraine, March 2 (UPI) -- Ukrainian Fuel and Energy Minister Yuriy Boyko denied Friday state-run Naftohaz Ukrayiny was on the verge of bankruptcy.

He said the company's financial state was o stable and there were no grounds "for society to worry about this."

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"While there are statements on Naftohaz Ukrayiny's bankruptcy, they have been transferred to the political plane and do not have any grounds whatsoever," he said.

The comments, reported by Ukrainian news agency UNIAN, came as Boyko presented the new head of Naftohaz Ukrayiny, Yevhen Bakulin.

Ukraine's Cabinet appointed Bakulin head of the company Thursday. He replaces Volodymyr Sheludchenko.

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Naftohaz Ukrayiny

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