Moscow: Gazprom's $3 billion payment to Ukraine’s Naftogaz is ‘a drop in the ocean’

Russian Deputy Prime Minister Dmitry Kozak, who oversees the fuel and energy sectors, said in an interview with Russia-24 TV channel, that the Russian government considers that almost $3 billion, which the Russian gas giant Gazprom agreed to pay to Ukrainian company Naftogaz accorfing to the ruling of the Stockholm Chamber of Commerce, is "a drop in the ocean."

"Neither Ukraine nor we can assume how much anyone has benefited [from the new transit agreement]. The $2.9 billion that we will pay in compliance with the court's decision, which has already entered into force, is a drop in the ocean compared to the claims that could be made against Russia," he said.

On December 20, after lengthy negotiations, Ukraine, Russia, and the European Commission agreed on a principled position on the continuation of gas transit from Russia to the European Union through the Ukrainian gas transmission system. Naftogaz of Ukraine and Russian Gazprom reached an agreement on the settlement of joint claims. According to the Protocol signed in Minsk, Gazprom has pledged to supply gas to the EU through the Ukrainian  gas transmission system within five years, as well as to pay Naftogaz $3 billion by the decision of the Stockholm Chamber of Commerce. Naftogaz, in turn, agreed to drop a new case against Gazprom for $12.25 billion.

  Gazprom, Naftogaz, Russia, Ukraine