Ukraine to seek arrest of Gazprom assets if Russian company fails to comply with arbitration court’s ruling

nsnbc : Ukrainian President Petro Poroshenko said he has ordered to seek the arrest of Gazprom’s assets if the Russian energy company fails to comply with the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce.

Russia_Gazprom_ITAR-TASS_Vitaly Grabar_Russia_Gazprom_gasPoroshenko made his statement at a meeting of Ukraine’s National Security and Defense Council. “I would like to appeal to NJSC Naftogaz CEO Andriy Kobolev, the Prosecutor General’s Office, the Justice Ministry, and the Foreign Ministry, headed by Pavlo Klimkin, to urgently convene a meeting, and if Gazprom does not pay this money, and, as far as I understand, it started doing it yesterday, Naftogaz should seek the arrest of Gazprom’s assets and ensure the implementation of these decisions,” Poroshenko said.

Poroshenko added that Ukraine has sufficient data on such assets, which he said are also used in the Nord Stream 2 gas pipeline project. Non-Ukrainian observers may note that one of the primary drivers behind both Russian and European decisions related to the North Stream and Turkish Stream pipelines is the volatility of the situation in Ukraine and seemingly endless disputes between Russia and Ukraine over gas prices including transit of gas via Ukraine to the EU. International observers may also note that Poroshenko’s statement comes as Europe is facing an unusually cold winter and energy-security is high on the European agenda.

No Gas Today_NEOPoroshenko called provocative statements by Gazprom that the Russian monopoly would not comply with the decisions of the Stockholm arbitration court and emphasized that such a position should have “geopolitical consequences.”

“The failure to respect court decisions has extremely important geopolitical consequences. How can then Europe count on the reliability of this gas supplier? What kind of Nord Stream 2 or Turkish Stream can we talk about if the company officially declares in negotiations with NJSC Naftogaz that it is not going to comply with the court decision,” he said.

On February 28 the Arbitration Institute of the Stockholm Chamber of Commerce obliged Gazprom to pay NJSC Naftogaz $4.63 billion in compensation for the failure to meet its gas transit obligations. At the same time, the arbitration court rejected Gazprom’s claims regarding the fines for the volumes of transit gas, allegedly taken by Naftogaz illegally.

CH/L – nsnbc 02.03.2018

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