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Gazprom will pay $ 2.6 billion to Naftogaz

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Gazprom will pay $ 2.6 billion to Naftogaz
August 16
13:00 2019

A Luxembourg court ruled that Gazprom had to pay $ 2.6 billion under the decision of the arbitration.

At the beginning of the year, Naftogaz notified Luxembourg banks and Gas Capital of the attachment of Gazprom’s debts and assets. Gazprom, from its part, filed a lawsuit in order to withdraw the attachment, but the request was denied.

As a result of the Stockholm meeting, Gazprom was obliged to pay $ 4.6 billion to Naftogaz for the undelivered amount of gas. Naftogaz’s debt was equal to $ 2 billion. As a result, it was decided that Gazprom would pay $ 2.6 billion to Naftogaz. Now the Russian company wants to file an appeal against the decision, but the Ukrainian partner (which is logical!) did not wait for the proceedings and began to “hunt” for Gazprom’s assets.

Naftogaz started to take similar actions in the Netherlands. Gazprom began to “save” its assets by selling a small part of Gazprom Holding Cooperatie on the Moscow Stock Exchange.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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