Gazprom has provisioned for the full amount of a fine on a transit contract with Naftogaz Ukrainy, despite published statements about the sum of the two arbitration rulings in disputes with the Ukrainian oil and gas company being $2.56 billion, or the difference between the fine of $4.673 billion and Naftogaz's confirmed gas debt of $2.018 billion.

The Russian gas giant has recognized expenditures of 272.943 billion rubles, or $4.74 billion at the exchange rate at the end of 2017, under the line item for fines and penalties for violation of contractual terms in its financial statement. This is almost in line with the arbitration ruling ordering Gazprom to pay the fine.

Gazprom could not offset the fine on the transit contract by the amount of Naftogaz's confirmed gas debt of $2.018 billion, because funds for delivery of gas are included in other line items, for revenue and receivables.

The Stockholm arbitration ruling therefore had a major impact on Gazprom's financial statement to Russian Accounting Standards for 2017, reducing net profit to just 100 billion rubles. The group's parent company had a profit of 411 billion rubles in 2016 and this figure reached a record 880 billion rubles in 2011.