Swedish court reinstates $2.6 bln debt collection from Gazprom in favor of Naftogaz

The Swedish Court of Appeal overturned the decision to temporarily suspend the implementation of the Stockholm arbitration award, under which Gazprom is to pay Naftogaz $2.6 billion.

Thus, the court confirmed that Gazprom must pay Naftogaz more than $2.6 billion, TSN reports with reference Naftogaz CCO Yuriy Vitrenko.

"The Court of Appeal of Sweden examined our arguments and canceled its decision to temporarily suspend the enforcement of the arbitration award in Sweden, according to which Gazprom must pay us more than $2.6 billion," Vitrenko wrote on Facebook.

He stressed that Gazprom must immediately implement the arbitration award.

As UNIAN reported earlier, in June, the Court of Appeal of the Swedish district of Svea suspended execution of the Stockholm arbitration award in the gas dispute Gazprom lost to Naftogaz.

Read alsoGazprom compelled to disclose its assets in Britain over Naftogaz's claim

The Ukrainian company stressed that the decision was temporary  and that in the near future the court would be provided detailed explanations and counter-arguments.

On February 28, 2018, Stockholm Arbitration ordered Gazprom to pay more than $4.6 billion to Naftogaz for the shortfall in transit gas volumes stipulated by bilateral agreements. Earlier, the court confirmed the debt of the Ukrainian company for gas supplies worth over $2 billion. As a result, according to the two arbitration disputes between the companies regarding the supply and transit of gas, Gazprom should pay Naftogaz some $2.56 billion plus penalties.

On March 21, Gazprom also appealed against the arbitration award under the gas supply contract.