Gazprom appeals against European asset seizures to compensate Ukraine's Naftogaz

Gazprom appeals against European asset seizures to compensate Ukraine's Naftogaz

Russian energy giant Gazprom has filed a petition in a Switzerland court seeking access to documents which allowed Swiss bailiffs to seize the company’s assets to compensate Ukraine’s energy firm Naftogaz, RT reports.

Gazprom’s assets were seized in compliance with the February decision of the Stockholm arbitration court. The ruling required the Russian corporation to pay the Ukrainian side compensation of $2.6 billion for a shortfall in the delivery of gas to Ukraine.

Gazprom appealed the verdict, arguing that Ukraine's Naftogaz stopped buying the contracted amount of gas in 2015, replacing it with reverse supplies from Europe, in breach of the existing contract.

The Russian company says it has received no official documents confirming implementation of the Stockholm court’s ruling so far, but confirms that the seizure proceedings are taking place.

“The company [Gazprom] has filed a petition to the Swiss court to get a full access to all the materials in the proceedings to potentially appeal against the actions by the court bailiffs,” according to the statement, seen by Russian business daily RBC.

Gazprom also pledged to file a similar appeal with the Dutch court, which reportedly began seizing company assets in the Netherlands.

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