14:25 30.06.2018

Decision of Svea Court of Appeal concerns only suspension of collection of $2.6 bln from Gazprom in Sweden

2 min read
Decision of Svea Court of Appeal concerns only suspension of collection of $2.6 bln from Gazprom in Sweden

The decision of Svea Court of Appeal (Sweden) to suspend enforcement of Naftogaz Ukrainy's monetary claim against Russia's Gazprom does not concern the sums that have been collected from Gazprom and it applies only to the territory of Sweden, Naftogaz Ukrainy Chief Commercial Director Yuriy Vitrenko has said.

"The decision of the Swedish Court of Appeal only deals with the temporary suspension of the enforcement of the $2.6 billion debt from Gazprom, with the automatic suspension of only the recovery in Sweden. In all other countries where we are levying funds from Gazprom, local courts will decide on this matter," Vitrenko wrote on his Facebook page on Friday.

"Thus, the suspension of collection does not in any way concern $2.1 billion, which have already been collected from Gazprom – under the award of the arbitration court these funds were transferred in payment for the gas already received. Thus, $2.1 billion was already received in the form of gas... Before that, thanks to the victory in the first lawsuit, under the contract for the supply of gas, the amount of debt for gas received was reduced by almost half, and $56 billion of debt on the "take or pay" condition was completely abolished," he added.

Vitrenko expressed confidence that the above-mentioned $2.6 billion from Gazprom will be recovered. "This is going to be a complicated proceeding, because Gazprom is trying to fail to comply with the awards of the international arbitration tribunal by all means, but we win here too. The suspension of compulsory collection in Sweden is temporary - until our arguments about the groundlessness of Gazprom's position to stop compulsory recovery for the time of consideration of the appeal of the arbitration award are heard. We expect that soon the suspension will be annulled," the commercial director of Naftogaz said.

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