Ukraine managed to confiscate all Ukrainian-based assets of Gazprom / Photo from UNIAN
The anti-trust agency managed to recover millions of dollars in Gazprom's assets in Ukraine.
An amicable agreement between Ukraine's government and Russia's Gazprom on a fine issued by the Ukrainian anti-trust agency does not foresee the return of the Russian company's assets seized in Ukraine.
"Gazprom will not demand any compensation. It has agreed that the value of its assets seized in Ukraine will never be reimbursed," Executive Director of NJSC Naftogaz of Ukraine Yuriy Vitrenko said at a press conference.
The anti-trust agency managed to recover millions of dollars in assets Gazprom had in Ukraine.
As was reported earlier, the Ukrainian side and Russia's Gazprom on December 30, 2019, signed a settlement agreement, according to which Ukraine will retract its US$7.4 billion fine imposed by the Ukrainian Antimonopoly Committee on the Russian company.
In January 2016, the Antimonopoly Committee fined Gazprom nearly UAH 86 billion (about US$3.4 billion) for abuse of its monopoly position on the gas transit market.
The decision was made under a government order, as well as in the light of official accusations brought by the European Commission against Gazprom over its dominant position on the market of Central and Eastern Europe, which violates the EU antitrust laws.
Since the fine had not been paid, the Antimonopoly Committee of Ukraine later lodged a lawsuit with Kyiv's Commercial Court, seeking the payment of penalties (the amount of which is equal to the amount of the fine), as well as to recognize the obligation to end the violation of antitrust laws. Kyiv's Commercial Court upheld the claim in early December 2016.
In May 2017, the Higher Economic Court of Ukraine rejected Gazprom's appeal against the Antimonopoly Committee's decision to recover UAH 171.932 billion (US$7.13 billion at the current forex rate) from the Russian company.
After the decisions were made, the Ministry of Justice began seizing Gazprom's assets in Ukraine and seeking mechanisms to recover them abroad.
In October 2018, Gazprom challenged the Antimonopoly Committee's decision on the fine, initiating proceedings against Ukraine in international arbitration in order to protect its investments.