Kiev contests suspension of Stockholm court ruling on Gazprom

KIEV, Jun 18 (PRIME) -- Ukrainian state energy holding Naftogaz Ukrainy has sent counter-arguments against suspension of a ruling by the Stockholm arbitration court in a case against Russian gas giant Gazprom, CFO of the Ukrainian company Yury Vitrenko said in a post on his Facebook account on Monday.

“We have made representations in the court of appeals of Sweden, which is considering the appeal (by Gazprom) against the (Stockholm) arbitration ruling,” Vitrenko said.

The Stockholm arbitration court ruled earlier in 2018 that Gazprom must pay Naftogaz Ukrainy U.S. $2.56 billion for non-shipment of gas. Gazprom said that the decision led to an imbalance in relations of the companies and requested termination of gas transit and delivery contracts with Ukraine.

Gazprom said on June 14 that a court of appeals suspended a ruling of the Stockholm arbitration court in a gas transit case with Ukraine. The company will use the decision as a ground to contest property seizure under the case in Switzerland and the Netherlands.

Ukrainian President Pyotr Poroshenko said in May that Ukraine had started to enforce the payment under the court’s ruling in Switzerland, the U.K., and the Netherlands. Later, Naftogaz Ukrainy CCO Yury Vitrenko said that the company started the process with Gazprom’s shares in Nord Stream AG and Nord Stream 2 AG.

End