Naftogaz files lawsuit with Latvian court to recover US$2.6 bln from Gazprom

National Joint-Stock Company Naftogaz of Ukraine has appealed to the court of Vidzeme suburb of Riga (Latvia) to seize Gazprom's assets in Latvia as a debt by decision of the Stockholm arbitration.

"In particular, the petition concerns recognition and enforcement in Latvia of the Stockholm arbitration ruling in transit dispute of February 28, 2018, which awarded Ukraine US$2.6 billion in a dispute with Gazprom on gas transit, as well as on the adoption of interim measures," Glavred reports.

As stated in Gazprom's quarterly report, a court hearing on the motion is scheduled for late April 2020.

At the same time, Gazprom is studying opportunities to protect their interests, the Russian company said.

Read alsoUkraine, Russia hold unannounced bilateral gas talks in Vienna

As UNIAN reported earlier, at the end of February 2018, Russia's gas monopoly Gazprom lost a lawsuit filed by Naftogaz with Stockholm arbitration on a gas transit contract. Gazprom was obliged to pay $4.6 billion to the Ukrainian side. 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.

At the same time, Naftogaz counted to Gazprom a penalty of $257 million for a debt of $2.6 billion.

On November 2, 2019, Naftogaz filed a new lawsuit with the Stockholm Arbitration against Russia's gas giant Gazprom for protection and counterclaims against Russian Gazprom in the amount of $12 billion. On November 27, Executive Director of NJSC Naftogaz of Ukraine Yuriy Vitrenko said the Swedish court of Svea County had rejected Gazprom's appeal against the decision of the Stockholm arbitration.