Naftogaz to seek arrest of Gazprom’s European assets

Naftogaz to seek arrest of Gazprom’s European assets
The state-owned joint stock company Naftogaz-Ukraine intends to file lawsuits at European courts aiming to arrest the assets of the Russian monopolist Gazprom because of the latter’s failure to comply with the ruling made by the Stockholь Court of Arbitration. The chief financial officer of the corporation Yuriy Vitrenko said it to Reuters, reports.

“It is clear for us that they (Gazprom) are not going to do it (pay), this is why we are going to start by arresting their gas and other assets in Europe, as opposed to in Ukraine. We are going to turn to courts in Europe”,- Vitrуnko said.
He also added that Naftogaz-Ukraine is not going to try to acquire the Russian gas that is being transported through the nation’s gas transportation system to Gazprom’s customers in Europe”.
“We do not want to create some kind of political ambiguity here, in the European Union, about Ukraine being an unreliable transit country”,- Vitrenko explained.

He also noted that it is possible that Gazprom may stop the gas transit through Ukraine in 2020 by redirecting the gas via other pipelines.
This is a way, according to Vitrenko, for the Russian president Vladimir Putin to punish Ukraine.
As reported earlier, on 28 February, the Stockholm Court of Arbitration satisfied Naftogaz’s claim to Gazprom. Naftogaz was a awarded a compensation amounting to $4.63 for the shortfall of gas for transit. Also, Gazprom was ordered to pay $2.56 billion to Naftogaz. The debt amount is also subject to interest payments and penalties – accumulatively at $526,000 per day, beginning on 1 March.

However, after the court’s ruling against it, Gazprom initiated the termination of the agreements on shipment and transit of gas with NAK Naftogaz-Ukraine.
After that, Ukraine confiscated all of Gazprom’s funds that were located in Ukraine at the time.
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