Ukraine's Naftogaz’s claims against Russian Gazprom exceed $12 billion

Source : 112 Ukraine

Yuriy Vitrenko, Naftogaz CEO, is sure that Naftogaz will win the new arbitration
19:24, 5 November 2018

Naftogaz’ claims against Russia’s Gazprom in Stockholm Arbitration exceeded $12 billion, as Yuriy Vitrenko, Naftogaz CEO, wrote on Facebook.

“And we will win the new arbitration. Our claims exceed $12 billion. Maybe, we won’t win all of it, but if there is no betrayal in Ukraine, we will win considerable sums,” Vitrenko said.

He also noted that hardly anyone, including rating agencies, believed that we would win first judicial proceedings with Gazprom, but such campaign was followed with successful results.

Related: Naftogaz-Ukraine chairman receives award from Patriarch Filaret

International rating agency Fitch Ratings rated the expected Eurobonds of Naftogaz with “B- level” and "RR4" level of rehabilitation of the assets.

Earlier, it was reported that Naftogaz Ukraine would send 90% of its income to Ukraine’s state budget, as the Prime Minister Volodymyr Groysman said at the session of the Cabinet of Ministers.

Related: Ukraine's government approves Eurobonds issuance by Naftogaz worth $1 million

Naftogaz supervisory board decided to pay bonuses amounting $46,3 billion to the workers who worked hard in Stockholm Arbitration in dispute with Gazprom concerning the transit contract.

Volodymyr Groysman commented on this, stating that it was “too much.”

Later, Ukraine’s Prosecutor General Office opened a criminal proceeding on payment of bonuses to Naftogaz board.  

Related: Naftogaz to transfer 90 percent of its income to public budget

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