Timoshenko family not to reimburse Naftogaz' losses of over $ 187M

"We do not have and have never had such financial resources. It is impossible. This is what the regime wants, but this does not mean this is what is going to be," Timoshenko's press service quotes the daughter as saying. The daughter said that the court decision to compensate to Naftogaz its alleged losses is illegal and thus is impossible to carry out.

According to Itar-Tass, Timoshenko's press service says that Naftogaz' former head of the claim department Igor Kost said in December of 2011 that the company had not made any calculations of losses which were allegedly caused by the mentioned gas contracts.

The Kiev Appeals Court upheld the ruling of the Kiev Pechersky Court on December 23. The Kiev Pechersky District Court sentenced Timoshenko on October 11 to seven years in prison for exceeding her authority in the signing of the gas contracts with Russia in 2009. She was also compelled to pay 1.5 billion hryvni (187.5 million dollars) to Neftegaz Ukrainy as reimbursement of the losses incurred by the gas contracts. Timoshenko is serving the sentence at the Kachanovskaya penitentiary /in Kharkov/.

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