Ukraine’s supreme court confirms Gazprom’s $3 bln fine

KIEV, Jul 13 (PRIME) -- The Supreme Economic Court of Ukraine upheld on Wednesday an earlier courts’ decision to charge a U.S. $3 billion fine on Russian gas giant Gazprom and turned down an earlier Gazprom’s cassation claim against the national Antimonopoly Committee.

The Antimonopoly Committee imposed the fine in 2015 to punish the company for its monopolist position on the transit gas market. Gazprom was baffled with the decision because it does not operate in Ukraine and only pumps its gas to state energy holding Naftogaz Ukrainy on the border with Russia.

Gazprom challenged the decision at the Kiev Economic Court, but the court refused to consider the suit saying that the entity that signed documents had no proven rights to do that. The Kiev Economic Court of Appeal later upheld the decision.

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