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.
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