Poroshenko: Naftogaz should work toward court seizure of Gazprom's assets if debt not paid

NJSC Naftogaz of Ukraine, in case Russian gas monopoly Gazprom fails to fulfill the award of the Stockholm Arbitration and pay US$2.56 billion to the Ukrainian company, should seek in court the seizure of Gazprom's assets, President of Ukraine Petro Poroshenko said Thursday, speaking at the meeting of the National Security and Defense Council.

The president thanked the Naftogaz team, which effectively defended Ukrainian national interests.

"In fact, this means that Gazprom must pay slightly over $2.5 billion in favor of Naftogaz," he said.

The president appealed to the Naftogaz CEO, as well as the Prosecutor General, Minister of Justice, and Minister of Foreign Affairs to urgently convene a meeting.

Read alsoRussia's Gazprom faces $500,000 in daily fine until it pays $2.56 bln to Naftogaz"If Gazprom does not pay this money - as I understand it, they should have started doing so yesterday - NJSC [Naftogaz] should secure the seizure of Gazprom's assets and ensure the implementation of these decisions. There are enough assets, including those related to Nord Stream-2," the president emphasized.

As UNIAN reported earlier, Ukraine, in the person of Naftogaz, sued Gazprom in the Stockholm Arbitration Court over the two contracts: on the transit of Russian gas to the European Union and Ukraine's purchase of Russian gas.

Read alsoNaftogaz seals win in Stockholm arbitration dispute with GazpromOn December 2, 2017, Naftogaz saw the final decision of the Stockholm Arbitration regarding the supply of Russian gas to Ukraine, with the court satisfying basic demands of the Ukrainian side.

The second decision concerns the transit contract concluded in 2009.

According to the deal, Gazprom must transport via Ukraine 110 billion cubic meters of gas annually. Since this condition was not met, Naftogaz demanded to collect $16 billion from the Russian company.

On February 28, Naftogaz received the final decision of the Stockholm Arbitration ordering that Gazprom pay Naftogaz $4.63 billion.

Following the consideration of both cases, Gazprom owes the Ukrainian company $2.56 billion, while the Ukrainian company owes nothing.

Naftogaz also announced its intention to seek in court the seizure of Gazprom's foreign assets, for example, those in the EU countries, if the Russian monopoly fails to comply with the arbitration award.