Arrested shares of Gazprom should be sold at public auction, - Ukraine's PM
20:03, 7 March 2018

Arrested shares of Gazprom should be sold at public auction, - Ukraine's PM

Groysman entrusted the Ministry of Justice to enhance measures of penalty demanding against Gazprom under the Stockholm Arbitration decision

20:03, 7 March 2018

Open source

Arrested shares of Gaztransit, valued at $24 million, should be sold at public auctions, as Volodymyr Groysman, Ukraine's Prime Minister, said. Press-office of the Cabinet of Minister reports.

The PM had a meeting with Pavlo Petrenko, Ukraine’s Justice Minister, where he stated that the Anti-Monopoly Committee of Ukraine imposed a fine on Gazprom for monopoly abuse on the gas market in Ukraine. The amount of fine is around $3,26 billion The sum has changed in a year because of the fine.

Gazprom tried to challenge the decision of the Anti-Monopoly Committee, but the courts of all instances confirmed that Ukraine has a right to make such demands. That is why Ukraine started describing and arresting Ukrainian assets in Gazprom.   

Related: Gazprom appeals against Stockholm arbitray court's decision on gas supply

The process of describing and arresting of assets, which belong to Gazprom has already started in Ukraine.

“Ukrainian enterprise Ukrainian Expert Group joined the process of assessment of the security prices and determined that Gazprom share price is around $24 million. These shares should be sold at public auctions,” the PM stated.

Earlier, Groysman entrusted the Ministry of Justice to enhance measures of penalty demanding against Gazprom under the Stockholm Arbitration decision.

As we reported earlier, after the ruling of the Stockholm Arbitration, Russia's Gazprom announced its intention to terminate gas contracts with Naftogaz Ukraine.

The Arbitration Institute of the Stockholm Chamber of Commerce has 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 compensation for the transit gas that had been agreed on, but not delivered by Gazprom. 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. $526 000 of interest per day will be added to the debt from March 1.

As reported earlier, on March 1 Gazprom reported that Naftogaz-Ukraine has made an advance payment for the resumption of Russian gas supplies from March. At the same time, Gazprom refunded the money, stating that this was due to the lack of an agreed addendum to the current contract. Naftogaz called Gazprom's refusal to supply gas a violation of the agreement and failure to comply with the arbitration decision.

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