Gazprom refuses to pay fine to AMCU, set to go to court

Russian gas monopoly Gazprom does not intend to pay a fine imposed by the Antimonopoly Committee of Ukraine (AMCU) in January 2015, Russian business news agency Prime reported, with reference to the memorandum of Gazprom on the issue of eurobonds.

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"The Committee imposed a fine against Gazprom in the amount of nearly UAH 86 billion ($3.4 billion) and demanded to correct the alleged violations. We believe that the statements of the Committee are groundless. We intend to use all rights and legal remedies available in accordance with current legislation to protect our interests," Gazprom said.

Read alsoExpert: EC is Ukraine’s hybrid ally in talks with GazpromThe materials of Gazprom also provide a breakdown of the debt of Ukraine's Naftogaz to the Russian company. Thus, Gazprom considers that in accordance with the contractual terms of "take or pay," the Ukrainian company must pay $7.09 billion, $11.39 billion, $8.20 billion and $2.55 billion for the shortfall in gas volumes in 2012, 2013, 2014 and 2015, respectively.

Read alsoNaftogaz estimates total claims against Gazprom at $30 blnIn addition, according to Gazprom, NJSC Naftogaz of Ukraine has an outstanding debt to the Russian company for gas supplied in 2013-2015, which is approximately $2.6 billion. Most likely, this amount includes the debt for deliveries to the south-east of Ukraine, which have been made since February 2015.

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