Photo from UNIAN
In late May, Naftogaz began the process of forcing a $2.6 billion debt from the Russian energy giant in foreign courts.
National Joint-Stock Company Naftogaz of Ukraine expects new trials will be launched in foreign courts to recover the debt from Russia's Gazprom as part of the implementation of the award issued by the Arbitration Institute of the Stockholm Chamber of Commerce.
"Gazprom must pay us US$4.6 billion in compensation for the [gas] transit contract. We have already received gas worth $2.1 billion. The rest is being collected through the enforcement procedure in several jurisdictions, namely in the Netherlands, the United Kingdom, Switzerland, the United States, and recently in Luxembourg. In the near future, debt recovery [related to Gazprom] is possible in other countries," Naftogaz wrote on Facebook on February 28.
As UNIAN reported earlier, at the end of February 2018, Russia's gas monopoly Gazprom lost a lawsuit filed by Naftogaz with the Stockholm Arbitration over a gas transit contract. Gazprom was obliged to pay $4.6 billion to the Ukrainian side.
Read alsoGazprom's debt before Naftogaz grows by US$200 mln
At the same time, taking into account the arbitration award on the gas supply contract, the final amount of settlements between the two companies is $2.6 billion in favor of Naftogaz.
Against the backdrop of their loss, Gazprom announced their intention to terminate via court its contracts with Ukraine for the supply and transit of gas. Late in March, Gazprom officially notified Naftogaz of their refusal to comply with the arbitration award.
In late May, Naftogaz began the process of forcing the $2.6 billion debt from Gazprom in foreign courts. The recovery process is under way in England, Switzerland and the Netherlands. Among the assets of interest to the Ukrainian side are the shares of companies operating the Nord Stream 1 and Nord Stream 2 gas pipelines.