Asters advises the Black Sea Trade and Development Bank on EUR 25 million loan to Concern Galnaftogaz

Asters acted as a legal counsel to the Black Sea Trade and Development Bank (BSTDB) in connection with its up to EUR 25 mln short-term revolving trade finance facility to Concern Galnaftogaz, a leading Ukrainian petroleum retailer company.

The loan will be used for the shipment of light-petroleum products and services from the EU and BSTDB’s member states including, among others, Bulgaria, Greece and Romania to Ukraine. By providing critical trade finance to Galnaftogaz, BSTDB plays a key role in promoting Ukraine’s economic development and resilience, supporting job preservation and improving the quality of life of Ukrainian citizens.

Asters’ partner Iryna Pokanay comments: “BSTDB and Galnaftogaz established their partnership in 2004, and it is extremely important that this fruitful cooperation, which we have been pleased to support, continues even during these difficult times for our country.”

Asters’ team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian, senior associate Inna Bondarenko and associate Viktoria Zagreba.

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