According to the deputy minister, the new arbitration proceedings will last at least until the end of the existing contract between Gazprom and Naftogaz.
Deputy Minister of Foreign Affairs of Ukraine for European Integration Olena Zerkal says Russia took Gazprom's loss in the Stockholm Arbitration as a slap in the face by the state of Ukraine. Hence, an emotional statement on aiming to terminate all contracts with NJSC Naftogaz of Ukraine.
Such a reaction is also provoked by the fact that Russia's presidential elections are to be held on March 18 and the energy monopoly's failure in court personally affected President Vladimir Putin, Zerkal told a TV panel show on ICTV March 5.
According to Zerkal, the termination process will not have been completed before the existing contracts expire.
Read alsoUkraine steps up security measures at GTS sites amid conflict with Gazprom
Naftogaz says Gazprom's failure to fulfill the court's decision has led to the gas shortage in the GTS. To overcome the crisis, the Cabinet of Ministers of Ukraine imposed restrictions on domestic gas consumption, while Naftogaz went for an emergency purchase of 60 mcm of gas from Poland's PGNiG.
Read alsoRussia's Gazprom officially informs Naftogaz about proceedings to terminate gas contracts