Poroshenko: This is the first time that Russia is unable to use gas as an instrument of political leverage and blackmail

Ukrainian President Petro Poroshenko welcomed the judgment of the Stockholm Court of Arbitration in the case of Naftogaz of Ukraine against Gazprom.

Earlier, the Stockholm Court of Arbitration fully satisfied the claims of Naftogaz to Russia's Gazprom under the gas supply contract with Ukraine from 2009 on a ‘take or pay’ basis. The Ukrainian state company won the largest commercial dispute.

The head of state noted that according to this judgment, the "take or pay" provision was cancelled and Russian Gazprom’s claim to pay for gas for this reason was dismissed, the presidential Press Office reported.

"This is the principle imposed on Ukraine by Russia and irresponsibly adopted by the Ukrainian negotiators in 2009. Therefore, millions of Ukrainians were robbed of billions of dollars," Poroshenko noted.

The President also stressed that the judgment of the Tribunal entitles Naftogaz to demand a gas price reduction under the contract with Gazprom on market terms. Thus, the cost of gas will not be determined by the Kremlin, but by a transparent and free market.

"This is an important step towards  energy security. For the first time, Moscow is losing the opportunity to use gas as an instrument of political leverage and blackmail. This is a very important judgment for Ukraine because the conflicts between Naftogaz and Gazprom have been regulated through civilized, legal means for the first time," he stressed.

The head of state also confirmed that Ukraine has been a reliable partner in providing gas to European consumers and it will continue to be so.

  Naftogaz, Gazprom, Poroshenko