REUTERS
Gazprom says the latest decision deprives Naftogaz of Ukraine of any grounds for seizing Gazprom's foreign assets.
Russian gas monopoly Gazprom says the Swedish court suspended the execution of the Stockholm Arbitration award in the dispute over the contract on gas transit through the territory of Ukraine, according to which the gas giant owes Ukraine $2.56 billion.
"On June 13, the Svea Court of Appeal (Sweden) granted the petition of PJSC Gazprom and ruled to suspend the Stockholm Arbitration award of February 28, 2018, in the litigation between Gazprom and Naftogaz of Ukraine on the contract for gas transit via the territory of Ukraine," according to a press release of Gazprom, the text of which is at the disposal of UNIAN.
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It is reported the petition was filed by Gazprom on June 7, 2018 due to the appeal of the arbitration decision on the transit contract and attempts by Naftogaz to initiate a procedure for the enforcement of this decision in various jurisdictions before the consideration of the complaint on the merits.
"The decision deprives Naftogaz of Ukraine of any grounds for seizing Gazprom's foreign assets. The circumstance will be used by Gazprom when appealing against the actions of bailiffs in Switzerland and the Netherlands," reads the report.
As UNIAN reported earlier, Gazprom lost a gas dispute with Naftogaz in the Stockholm arbitration court and was obliged to pay the Ukrainian company some $2.56 billion and supply up to 5 billion cubic meters of gas per year in 2018-2019 at prices in line with those at European gas hubs.
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Despite the defeat, Gazprom announced plans to terminate the contract with Ukraine for the supply and transit of gas, and lowered the pressure in the gas transmission system (GTS), which complicated gas transit shipments to Europe and caused a temporary gas shortage in the GTS (March 2-3).
After the gas crisis was successfully addressed, the European Commission stated that Ukraine had fulfilled all its gas transit obligations.
Late in March, Gazprom officially notified Naftogaz it would not implement the arbitration award.
On May 28, Gazprom said it had submitted an application for a complete reversal of the decision taken by the Stockholm Arbitration in the dispute between Gazprom and Naftogaz of Ukraine over the gas transit contract to the Svea Court of Appeal.