The Ukrainian Gas Giant At The Center Of A Global Political Scandal

Not long ago, Ukraine’s state-run natural-gas company was considered a monopolistic cesspool of corruption, “the poster child of inefficient and nontransparent state monopolies bearing high credit risks,” as one think-tank report put it in 2010. That has partly changed in recent years, as Western lenders have pushed new management to streamline Naftogaz – steps on the path to the larger goals of weaning Ukraine off Russian gas and increasing the company’s contributions to the state budget.Now the effort to reinvent…