British court's ban on Gazprom's withdrawing assets from England and Netherlands remains in force – Naftogaz
The Commercial Court of England has suspended proceedings in the case on the enforcement in the territory of England and Wales of the decision of the ArbitrationInstitute of the Stockholm Chamber of Commerce on the transit dispute between Naftogaz and Gazprom, imposing certain obligations on Gazprom, in particular regarding non-hiding and non-withdrawing its assets from the jurisdictions of England and the Netherlands, the press service of the Ukrainian company has said.
"In addition, Gazprom is obliged within 28 days from the time the application is satisfied to transfer cash security to the court's account or the escrow account of one of the London banks as a guarantee of fulfilling the court requirements," Naftogaz said.
The Ukrainian company says if Gazprom fails to comply with the court decision it will be sanctioned in the form of fines or criminalization of directors or other officials, and Naftogaz will be able to continue executing the decision of the Stockholm arbitration without hindrance in the territory of England and Wales.
Advertising
Advertising
MORE ABOUT
Naftogaz Group receives UAH 23.1 bln net profit in 2023 against UAH 79.1 bln loss in 2022
12:52, 07.05.2024
Enemy attacks gas infrastructure facilities in Ukraine, consumers and clients won't be affected – Naftogaz
14:35, 27.04.2024
Naftogaz pays UAH 18.2 bln in taxes in three months
11:35, 16.04.2024
Naftogaz ready to buy all the gas offered by Ukrainian producers in 2024
19:05, 12.04.2024
During Russian attack on Naftogaz facilities on Friday, no casualties or serious damage - Chernyshov
11:57, 29.03.2024
LATEST
After opening of sea exports, Metinvest increases workload of factories, directs efforts to retain teams – HR Director
20:17, 06.05.2024
Kamet Steel plant carrying out major overhaul of cable rack at coke chemical division for uninterrupted power supply
19:52, 06.05.2024
Business expectations in Ukrainian construction market in Q2 decrease by 1.1 pp – statistics
19:16, 06.05.2024
Four MPC members expect reduction of key policy rate to 11.5-12% by late 2024, remaining 7 expect fall to 13% – NBU
13:58, 06.05.2024
NBU develops alternative scenario in case of higher security risks with GDP growth in 2025 by 3.3%