eer.ru
NJSC Naftogaz of Ukraine has refused to pay a bill of $2.59 billion it received from Russia's gas giant OAO Gazprom, according to Russian news agency TASS.
The press service of the Ukrainian company said that the use of the "take or pay" principle by Gazprom was illegal in this case, TASS wrote.
"Naftogaz of Ukraine considers the provision of take or pay in the form it was set out in the contract with Gazprom to be non-market, illegal and invalid. The validity of the claims of Gazprom based on the 'take or pay' principle will be determined in court," the Ukrainian company said in a statement.
Naftogaz challenges the application of that provision in the Court of the Arbitration Institute of the Stockholm Chamber of Commerce.
Earlier on Tuesday, Gazprom drew a $2.549 billion bill to Naftogaz for the Russian gas Ukraine had not taken in the third quarter of 2015 under "take or pay" condition.
Gazprom expects the Ukrainian company to pay the bill in 10 days.