Kyiv demands seizure of Gazprom’s assets in Latvia

According to Gazprom's reports, Naftogaz of Ukraine filed a motion to the Latvian court to enforce the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC) in the case against the Russian gas giant Gazprom. The company is determined to recover $3 billion from the Russian gas giant.

According to Gazprom, the court hearing on this claim is scheduled for the end of April 2020. At the moment, the company is considering ways to protect its interests.

"On November 5, 2019, Gazprom announced that Naftogaz of Ukraine filed a petition with the Vidzeme suburb of Riga (Latvia) for recognition and enforcement in the territory of Latvia of the decision of the Stockholm Arbitration regarding the Transit Dispute of February 28, 2018, as well as the adoption of interim measures," reads the report.

In December 2017 and February 2018, the Stockholm Chamber of Commerce made two decisions on disputes between Gazprom and Naftogaz on gas supplies to Ukraine and its transit through the country, obliging the Russian company to pay Naftogaz $2.56 billion.

Gazprom has sent an application to the Svea Court of Appeal (Sweden) to completely nullify the decision. However, on November 27, the court rejected the appeal. The court's decision is final and not subject to appeal.

  Gazprom, Naftogaz, Russia, Ukraine, Latvia

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