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To get EUR 600m aid from EU, Ukraine must adopt law on electricity market - Hernandez

To get EUR 600m aid from EU, Ukraine must adopt law on electricity market - HernandezA slowdown in the adoption of the law on the electricity market (No. 4493) will have a number of negative consequences for Ukraine, including a delay with the issue of EUR600 million of the third tranche of EU macro-financial assistance, First Secretary of the EU Delegation to Ukraine Jose Manuel Hernandez has said.

This is reported by Interfax-Ukraine.

"The adoption of the law is a prerequisite for the issue of the third tranche of macro-financial assistance in the amount of EUR600 million," he said.

The official also noted in the absence of this law foreign investors will have doubts about the transparency of financial flows in the Ukrainian energy sector.

"Under these conditions, it will be very difficult for potential investors to make decisions about investing in the energy sector of Ukraine," the EU representative believes.

He expressed the opinion that without the law on the electricity market cooperation between the EU and Ukraine in the energy sector will look very limited.

"The law is the basis for creating commercial and technical conditions for the integration of Ukrainian and European energy markets," he said.
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