The Commercial Court of the Queen's Bench Division of the High Court of Justice England and Wales has, following a lawsuit brought by NJSC Naftogaz Ukrainy, decided to freeze $145 million in Nord Stream dividends payable to Gazprom.

Naftogaz said in a press release on Friday that the court ruled on June 11 that Gazprom must deposit $145 million of any dividends paid by Nord Stream with the court to enforce its order.

The decision takes into consideration the extension of consideration of an appeal against an earlier decision by the Stockholm arbitration court and possible additional interest on debt that Gazprom will have to pay to Naftogaz.

The court ruled that when Nord Stream shareholders reach new decisions on paying dividends Gazprom must obtain the consent of Naftogaz or of the court in order to receive those funds.

The court in March this year imposed additional obligations on Gazprom, ordering it not to conceal and not to move its assets from the jurisdictions of England and the Netherlands.

In addition, Gazprom was obliged to deposit $200 million cash as security on the court's account or the escrow account of a London bank as a guarantee of fulfilling the court's orders.

According to the commercial court's ruling, the Stockholm tribunal's judgment concerning the transit litigation between Naftogaz and Gazprom will be enforceable on the territory of England and Wales following a ruling by the Svea Court of Appeal.