Ukraine's Naftogaz appeals suspension of court decision in Gazprom's case

Naftogaz of Ukraine has appealed to the Stockholm Court of Appeal regarding the suspension of the ruling of the Stockholm Arbitration Court, which was done at Gazprom’s request, reported RIA Novosti, citing the Stockholm Court of Appeal.

Naftogaz submitted an appeal to review – as a soon as possible – the decision to suspend the implementation of the February 28, 2018 ruling of the Stockholm Arbitration Court concerning the dispute between Naftogaz and Gazprom. It was explained that Naftogaz has already initiated measures to enforce the decision, and that this requires that the case be considered by various courts and authorities in Europe.

The materials also say that the measures taken previously showed that Gazprom actively avoided implementing the decision, and if it is suspended during the entire period that the appeal is being considered, which could take two years, it could cost Naftogaz about three billion dollars.

The company’s lawyers fear that in two years Gazprom could restructure its activities and thus avert payments.

Earlier, the Appeal Court of Svea district in Sweden suspended implementation of the Stockholm Arbitration Court, which ruled in favor of Naftogaz.

  Naftogaz, Gaprom, Stockholm Arbitration Court, Russia, Ukraine