Gazprom hopes for revision of arbitration ruling for Naftogaz

ST. PETERSBURG, Jun 7 (PRIME) -- There are chances for revision of the Stockholm arbitration court’s ruling to pay U.S. $2.56 billion to Ukrainian energy holding Naftogaz Ukrainy, Sergei Kuznets, a deputy head of Gazprom’s department, said in a news conference on Thursday.

“Naftogaz is trying to arrest some property hoping to force Gazprom pay as soon as possible. We think we don’t need to hurry here, we should in fact work it out and put a period to this case of who owes what to whom. We think that we have all the chances for a revision of the arbitration decision,” he said.

When asked when Gazprom would pay the sum to Naftogaz Ukrainy, he said, “We have no certainty that if we pay the money now, we would get it back after the decision is changed or lifted completely, which we hope would happen. So, we continued the litigation.”

Naftogaz Ukrainy said on Tuesday that a Dutch court arrested the local assets of Gazprom to pay U.S. $2 billion to the Ukrainian company under a Stockholm court ruling. Court executors are also “taking actions” to freeze Gazprom’s stakes in Nord Stream AG and Nord Stream 2 AG, the company said then.

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