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.


The Black Sea Trade and Development Bank (BSTDB) is an international financial institution with authorized capital of EUR 3.45 bln. It supports economic development and regional cooperation in the Black Sea Region through trade and project finance lending, guarantees, and equity participation in private companies and public entities in 11 member countries.

Asters is the largest full-service law firm in Ukraine with offices in Kyiv, Brussels, London, and Washington, D.C. The firm has access to over 125 jurisdictions through a well-developed network of partner law firms. Asters and its lawyers consistently receive recognition by the leading international rankings, namely Chambers & Partners, The Legal 500 EMEA, IFLR1000, GAR1000, GCR100, The Lawyer, Best Lawyers, Who’s Who Legal.

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