The Appeal Court of Svea district in Sweden suspended the decision of the Stockholm arbitrary court in the Gazprom-Naftogaz dispute about gas transit contract. Interfax news agency reported this on Thursday.
According to the medium, Gazprom said it turned to the Appeal Court, asking to appeal the arbitrary decision about the transit contract.
'The Appeal Court agreed that there are enough reasons to suspend the decision of the Stockholm arbitrary. Making such decision leaves NJSC Naftogaz Ukraine without mechanisms to seize Gazprom's assets abroad. Gazprom will use this circumstance during the appeal of the actions of tipstaffs in Switzerland and the Netherlands', the Russian company said as quoted by Interfax.
According to the Swedish law, the order of the appeal court cannot be appealed.
The Ukrainian side reported it would file counter-arguments in this case. Naftogaz insists that the decision was made without calling the company - consequently, without taking into account the Ukrainian side's explanations and arguments. The Appeal Court of Svea district did not notify Naftogaz about the claim filed by the Russian company.
'This decision is a temporary one. In the near time, the company will file its explanations and counter-arguments, expecting that the court will take them into account and cancel the decision about the suspension', the message says.
In October 2017, Ukraine’s national joint stock company Naftogaz and six of its affiliated companies started the arbitration procedure against Russia. The Ukrainian side accuses Russia of illegally capturing Ukrainian gas assets in Crimea during the occupation of the peninsula in spring 2014. Interfax Ukraine agency reported this with reference to Naftogaz’s press service.
Naftogaz assessed the total sum of losses as of USD 2.6 billion. The company demands that Russia makes up the losses that Ukraine suffered after the illegal capture of gas assets. That also breached the Ukraine-Russia intergovernmental agreement, under which the countries were obliged to mutually support and protect each other’s investments.