Dutch, Luxembourg courts reject Gazprom's appeals in case of enforcement of Stockholm arbitration's award

REUTERS The Amsterdam Court of Appeal (the Netherlands) has rejected an appeal filed by Russian gas monopoly Gazprom regarding the court&#39;s jurisdiction, thereby confirming its authority in the case on the recognition and enforcement of the Stockholm arbitration award in the Netherlands. The court made the relevant decision on July 8, according to the press service of NJSC Naftogaz of Ukraine. In addition, the District Court of Luxembourg on the same day made a decision in favor of Naftogaz. It rejected Gazprom&#39;s appeal and confirmed the arrests against the Russian company on the territory of the country as part of the enforcement of the Stockholm arbitration award. As UNIAN reported earlier, Gazprom late in February 2018 lost a lawsuit against Naftogaz in the Stockholm arbitration on a transit contract, according to which the Russian company must pay the Ukrainian side $4.6 billion. At the same time, taking into account the decision of the arbitration on the gas supply contract, final amount of settlements between the companies amounts to $2.6 billion in favor of Naftogaz. Read alsoRussia could set up another gas crisis for Ukraine if no new transit agreement signed, Klimkin admits Against the background of the defeat, Gazprom announced their intention to terminate in court the contract with Ukraine for the supply and transit of gas. On March 20, Gazprom officially notified Naftogaz that it refuses to execute the arbitration decision. In late May, Naftogaz began the process of forced collection from Gazprom of a $2.6 billion debt in foreign courts. Trials for the arrest of Gazprom&#39;s assets are underway in the UK, Switzerland, and the Netherlands. Among the assets of interest to the Ukrainian side are the shares of companies-operators of the Nord Stream 1 and Nord Stream 2 gas pipelines.

Dutch, Luxembourg courts reject Gazprom's appeals in case of enforcement of Stockholm arbitration's award

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