The Ministry of Justice of Ukraine announced its intention to recover a fine from Gazprom

The Ministry of Justice of Ukraine is preparing requests to collect an antimonopoly fine from Gazprom PJSC, as stated at a briefing by Pavel Petrenko, the Ukrainian Minister of Justice, UNN reported.

According to Petrenko, about USD 3,073,000 million in dividends which Gazprom was owed by Gaztransit PJSC has been recovered and returned to the Ukrainian budget. In addition, a block of Gazprom stock, valued at USD 1.279 million was seized from this company.

The Minister of Justice of Ukraine explained that after the exhaustion of "all national means" to search for assets in Ukraine, the country would use "international legal assistance" to uphold this decision in other countries. He added that Ukraine has 27 treaties for legal assistance with other states, including European Union member countries.

The State Executive Service of Ukraine has seized 100% of the capital assets of the Ukrainian subsidiary of Gazprom PJSC, Gazprom Sbyt Ukraine LLC, in Kyiv as part of the compulsory recovery of a fine of USD 6.6 billion from Gazprom by the Antimonopoly Committee of Ukraine (AMKU), as stated in the June 9th court ruling in which the Economic Court of Kyiv denied Gazprom’s motion claiming the seizures were illegal, Ukrainian News reported.

Gazprom Sbyt Ukraine LLC is a 100% subsidiary of the Russian company, Gazprom. The company was established as a part of the implementation of an agreement between the Russian company and Naftogaz of Ukraine on the development of relations in the gas industry from March 12, 2008 for the supply of natural gas to Ukrainian industrial consumers. The capital assets of Gazprom's subsidiary totals USD 38,417,21.

On May 31, 2017, the Stockholm Arbitration Court canceled the take-or-pay requirement of Gazprom’s contract with Naftogaz to supply gas to Ukraine, fully upholding Naftogaz’s claim, the company said. In addition, the arbitration court upheld Naftogaz’s claim over the revision of gas prices in the contract with Gazprom and canceled the ban on gas re-export.

Gazprom’s press service said that the judgment taken by the Stockholm Arbitration Court is an interim decision and that the court will make the final decision no earlier than the end of June.



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