Court seized Dutch assets of Russian Gazprom to pay $2 million to Ukrainian state energy company
Ukraine’s state energy group Naftogaz had asked Swiss courts to enforce the ruling
A court has seized the Dutch assets of Russian energy group Gazprom to pay $2.56 billion in compensation to Naftogaz, the Ukrainian company has said.
Ukraine’s state energy group Naftogaz had asked Swiss courts to enforce a ruling that it receive $2.6 billion from Russian giant Gazprom after a long-running legal battle.
The ruling, made by the Stockholm arbitration court in February, was meant to conclude a legal battle over gas deliveries. But Naftogaz said Gazprom had not complied with the ruling which obliged the Russian company to resume gas supplies to Ukraine at a market-reflective price and to pay $2.6 billion.
The legal battle has run alongside Ukraine’s broader political stand-off with Russia.
Gazprom appealed against the Stockholm ruling in April, and the case is ongoing.
Ukraine is a major transit country for Russian gas supplies to Europe where Gazprom accounts for around 35 percent of the gas market.
You may be interested
Merkel: I hope we take final step with Greek programme on Thursdaymakis - Jun 19, 2018
German Chancellor, Angela Merkel expressed hope that the Eurogroup meeting on Thursday would be the last step for the Greek…
Mykonos! The island where some bread slices cost 28 euros!makis - Jun 19, 2018
A Spanish bakery claims to sell the world’s most expensive bread in the world at €106 a loaf. OK, that…
U.S Embassy in Athens strongly condemns furlough to terrorist Koufontinasmakis - Jun 19, 2018
The U.S Embassy in Athens issued a press release condemning the granting of a 48-hour furlough to November 17th convicted…