Swiss Court renews seizure of Gazprom assets

Source : 112 Ukraine

The assets will remain frozen during the hearings on Naftogaz appeal
11:28, 5 July 2018

Open source

Swiss high court of Zug canton has reinstated the seizure of assets of the Nord Stream AG and Nord Stream 2 AG, belonging to Russian Gazprom. This was reported on Naftogaz website.

“The assets will remain frozen until Naftogaz-Ukraine’s appeal on lifting the seizure is being considered. Earlier, such decision was made by the local debt collection body,’ the message says.

The assets were unfrozen based on the statements of the Nord Stream AG and Nord Stream 2 AG that the assets were outside of Zug canton and thus, out of debt collection body’s jurisdiction and have to be excluded from the list of the seized assets.

Related: Ukraine-Russia gas dispute: Commercial court of London allows to freeze Gazprom's assets

If enforcement of the decision of debt collection body was not suspended by the court, Gazprom could have had its Nord Stream AG and Nord Stream 2 AG assets at its disposal, even if they were out of Zug canton debt collection body’s jurisdiction, according to Naftogaz.

As it was reported on June 8, Russian state-run gas company Gazprom addressed the Swiss court, complaining about the seizing of its assets in the Netherlands. The company plans to submit another appeal to the Dutch court.

The Russian side also insists it still has not got any official notifications about the beginning of the asset freeze due to the execution of the Stockholm arbitrary court's decision

Related: Naftogaz-Gazprom dispute: Ukraine turns to Swedish Appeal Court

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