Ukrainian court upholds rejection of Gazprom suit seeking cancellation of $3.4 bln fine

14:45, 18.05.2016 1 min read

The Kyiv Economic Court of Appeals has rejected a complaint filed by Gazprom that sought to overturn a lower court's decision not to hear the Russian gas giant's appeal of a fine totaling UAH 85.966 billion ($3.4 billion at the current rate) that was levied by Ukraine's Antimonopoly Committee.

The court issued its decision on Wednesday, an Interfax-Ukraine correspondent reported from the court.

"Gazprom's complaint against the Antimonopoly Committee...shall be rejected... The April 13, 2016 decision of the Economic Court of Kyiv shall stand," presiding judge Oleksandra Agrikova said.

Gazprom has the right to appeal the latest ruling.

The Antimonopoly Committee fined Gazprom for abusing its monopoly position on transit through Ukraine.