11:07 19.10.2017

Court permits to recover UAH 171 bln fine from Gazprom from all of its property

2 min read
Court permits to recover UAH 171 bln fine from Gazprom from all of its property

Kyiv's Economic Court has changed the way of enforcing a court decision to recover a fine of UAH 171 billion from Russia's Gazprom, extending penalties to all property of the debtor, Justice Minister Pavlo Petrenko has said.

"Kyiv's Economic Court granted the petition by the Antimonopoly Committee of Ukraine and the Enforcement Service of the Justice Ministry and changed the way of enforcing the court decision regarding the recovery of a UAH 171 billion fine from Gazprom. To put it simply, earlier it was possible to recover only Gazprom's funds placed in banks, but now the recovery is extended to all property of the debtor," he wrote on his Facebook page on Thursday.

He noted that in accordance with the procedures, the court decision should be made public in a few days.

In January 2016, the Antimonopoly Committee decided to fine Gazprom UAH 85 billion for abuse of its monopoly of the Ukrainian market for transit shipments of natural gas. This decision was upheld on several occasions by Ukrainian courts. In its latest ruling, on February 22, Kyiv's Economic Court of Appeal upheld the ruling of a lower court confirming the order to recover the fine from Gazprom, which had already grown to UAH 172 billion (about $6.4 billion) with fines for nonpayment.

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