Ukraine: Zaporizhstal VAT reimbursement settled electricity problems

After electric power supply to the works had been cut off, part of value-added tax in the amount of 204 million UAH (according to declaration for December 2014) was reimbursed to Zaporizhstal Integrated Iron and Steel Works. These funds were immediately transferred by the works in full to offset existing debt to public monopolies: Zaporizhoblenerho and National Joint-Stock Company Naftogaz of Ukraine. After appropriate financial arrangements Zaporizhoblenerho restored electric power supply to Zaporizhstal.