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

Source : 112 Ukraine

The decision says that the Russian company has 48 hours to send Naftogaz-Ukraine the list of all assets, based in England or Wales, if their overall price exceeds USD 50,000
17:16, 19 June 2018

insight-ukraine.org

The commercial court of London ruled that the assets of Gazprom enterprise will be frozen - on the appeal filed by national joint stock company Naftogaz-Ukraine. The latter's press service reported that on Tuesday. 

Naftogaz reiterated that the asset freeze is necessary to implement the decision of Stockholm court of arbitration, which foresees that Gazprom should pay Naftogaz 2.6 billion dollars as a refund.

The decision of London's commercial court says that the Russian company has 48 hours to send Naftogaz-Ukraine the list of all assets, based in England or Wales, if their overall price exceeds USD 50,000.

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

In March 2018, Russia's energy monopolist Gazprom refused to abide by the decision of Stockholm arbitrary court. Naftogaz-Ukraine company reported this after the last week's meeting with Gazprom's representative.

'Gazprom made it extremely clear that it's not going to resume gas supplies to Ukraine, which the court ruled earlier, in December 2017. Gazprom also refused to pay 2.6 billion U.S. dollars, which was also foreseen by the court's decision in February, in the transit contract case', the press service of the Ukrainian company reported.  

As a result of two arbitrations in Stockholm, Gazprom is to pay Naftogaz $2,56 billion. The court dismissed the demands of Gazprom that stated that the money hadn’t been paid as it was considered the fines for what they called unlawfully seized by Naftogaz volumes of the transit gas. 

Related: Swedish court suspends decision in Gazprom-Naftogaz dispute, Ukrainian side protests

Related: Naftogaz Group illegally engaged in shipment of gas extracted by the state

Related: Naftogaz-Ukraine doubts Gazprom’s allegations of external influence over the arbitrary ruling

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