Gazprom's Dutch assets frozen

Gazprom's Dutch assets frozen

Ukraine’s state-owned Naftogaz said a Dutch court had approved its petition to freeze Dutch assets of Gazprom to enforce an arbitration ruling that Naftogaz should receive $2.6 billion from the Russian company.

In late May, Swiss court officers made an inventory of properties attached to the office of the Gazprom-controlled Nord Stream AG project as part of the ruling by the Stockholm arbitration court. The Russian energy company confirmed the information, highlighting that it had not received any notice.

According to the Naftogaz statement, Swiss court bailiffs are currently seizing Gazprom’s stakes in Nord Stream AG and Nord Stream 2 AG.

That ruling, made by the Stockholm arbitration court in February, was meant to conclude a legal battle over gas deliveries. But Naftogaz says Gazprom has not complied with the ruling, which obliged the Russian company to resume gas supplies to Ukraine at market equivalent prices and pay $2.6 billion, Reuters recalls.

Naftogaz said last month it would go to court to seize Gazprom assets in Europe, but would not touch Russian gas transit through Ukraine.

Last week, the Ukrainian firm said it had also asked Swiss courts to enforce the arbitration award and Swiss authorities have taken measures against Gazprom’s assets too.

Gazprom appealed against the Stockholm ruling in April, and the case is ongoing.

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