Courts of the Netherlands and Luxembourg make decision against Gazprom, - Naftogaz

Source : 112 Ukraine

The Russian side will be obliged to implement the decision of the Arbitration Institute of the Stockholm Chamber of Commerce
16:15, 19 July 2019

Courts of the Netherlands and Luxembourg rejected the appeals of Russia's Gazprom related to the compulsory implementation of Stockholm Arbitration Court’s decision. The press office of NJSC Naftogaz Ukraine reported this.

The Appeal Court of Amsterdam rejected Gazprom’s complaint on the court’s jurisdiction on July 8. Thus, it confirmed its powers in the case concerning the recognition and enforcement of the decision of the Stockholm Arbitration Court.

Related: Zelensky: Ukraine wants to reach agreements with Russia on gas transit in September

District Court of Luxembourg also rejected the appeals of Gazprom on the same day and confirmed the arrest of Russian company on the territory of Luxembourg within compulsory implementation of the decision of Stockholm Arbitration Court.

As we reported earlier, NJSC Naftogaz Ukraine started the process of recovering $2.6 billion from Gazprom (Russia) under the decisions of the Stockholm arbitration within the jurisdiction of Luxembourg. The Arbitration Institute of the Stockholm Chamber of Commerce granted the lawsuit of Naftogaz as to compensation for the volumes of transit gas that had not been delivered by Gazprom on February 28. According to the decision of the court, Naftogaz got a $4.63 billion of compensation for the transit gas that had been agreed on but not delivered by Gazprom.

Related: Russia’s Gazprom increases volume of gas transit through Ukrainian system by 25%

In May, it was reported that Russia’s Gazprom appealed the decision on the arrest of any debt and asset of the company.

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