Gazprom loses appeal in case against Ukraine's Naftogaz
Amsterdam Court of Appeal rejected Gazprom's complaint concerning the jurisdiction of the court, thereby upholding its authority in the case of recognition and enforcement of the decision of the Stockholm Arbitration in the Netherlands.
"Such a decision was issued by the court on July 8. Moreover, on the same day, the Luxembourg district court ruled in Naftogaz favor. It declined Gazprom's objection, thereby confirming legality of seizure of Russian company’s property in Luxembourg’s territory as part of enforcement of Stockholm arbitration court ruling," reads the statement of the Press Service of Naftogaz of Ukraine.
At the end of February 2018, the Russian gas giant Gazprom lost a lawsuit against Naftogaz on the transit contract in the Arbitration Institute of the Stockholm Chamber of Commerce. It was ruled that the Russian company must pay $ 4.6 billion under the agreement and considering the decision of arbitration, the final amount of payments is $2.6 billion in favor of Naftogaz.
However, Gazprom was trying to challenge the decision of the Stockholm Arbitration. In February, Naftogaz of Ukraine demanded that the assets of Gazprom in Luxembourg banks be seized. The Russian company filed a lawsuit in Luxembourg Court in April to challenge the seizure of porperty, and on May 24 appealed to the Stockholm Arbitration Court.