Yatsenyuk expects verdict of Stockholm arbitrary court on gas case by late 2016
18:00, 16 February 2016

Yatsenyuk expects verdict of Stockholm arbitrary court on gas case by late 2016

Ukraine sues Russia for failure to comply with current interstate contracts in energy sector, Premier says

18:00, 16 February 2016

Ukrainian photo

Prime Minister Arseniy Yatsenuyk said he expected the verdict of the Stockholm Court of Arbitration on the Ukraine-Russia gas case by the end of this year. The official said this during his speech at the Parliament where he touched upon the activities of the government in various areas throughout the last year. His speech is broadcasted by 112 Ukraine TV channel.

“Last year, Ukraine sued Russia’s Gazprom for breaches of two interstate contracts. The first one is sale and purchase contract, under which Ukraine demands 14.5 billion dollars from Russia. The second document is a transit contract, under which Ukraine demands Gazprom company to pay USD 8.2 billion. The lawsuits are considered at the Stockholm Court of Arbitration, and by the end of the year, I hope, the respective positive decisions will be made, because we took the rightful position”, Yatsenuyk said.

13 October 2014 "Naftogaz Ukraine" appealed to the Stockholm arbitration demanding to oblige the Russian "Gazprom" to pay compensation for the un-granted gas in amount of $ 3.2 billion and interest. The total amount of "Naftogaz" claims to "Gazprom" exceeded $ 16 billion.

In 2015 "Naftogaz" planned to borrow $ 500 million to purchase Russian gas.

16 June 2014 "Gazprom" addressed to the Stockholm arbitration with a claim to regain the unpaid debt for natural gas and interest totaling more than $ 4.5 billion. On the same day the "Naftogaz" filed a claim for retroactive change in gas prices, reimbursement of overpayments carried from 20 May, 2011 in the amount of not less than US $ 6 billion and the abolition of the contract provisions which prohibits the gas supply outside Ukraine.

The government presents the report on its actions in 2015, while staying in rather critical conditions. Most recently, Minister of Trade and Economic Development Aivaras Abromavicius resigned, saying it was due to regular pressure on his team and unwillingness of some Ukrainian officials to continue with reforms in the country. The Minister’s step caused an avalanche of criticism against the government – both in Ukraine and abroad.

Yatseniuk says he will resign only if the Parliament claims the vote of censure to his government. Ukraine’s MPs are currently discussing the quality of work of Yatseniuk’s government, as well as pros and contras of saving it.     

Related: Yatsenyuk: Ukraine started to strengthen border with Russia

Related: Ukraine might import gas from LNG terminals in Poland and Lithuania

Related: "Gazprom" litigated "Naftogaz" about illegal gas assigning

Related: “Ukrtransgaz” released a counter of days without Russian gas

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