Naftogaz was the first Ukrainian government-owned entity to default since Russia invaded the country in February.
Last year, the company said the deadline for payments to holders of Naftogaz Eurobonds expired on July 26 without payment taking place.
"As this failure to meet its Eurobond obligations effectively deprives Naftogaz of access to international capital markets, the Cabinet of Ministers as the responsible party now assumes full responsibility for raising the funds necessary for the import of natural gas for the 2022-2023 heating season," the company said.
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