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Ukraine Announces Freezing Of Russian Gas Assets In Ukraine
Mar 08, 2018

The Ukrainian government announced on the 7th that it will freeze and seize the assets of Gazprom (Gazprom) in Uzbekistan.

The Ukrainian government issued a notice on the website that day, according to the decision of the Ukrainian Anti-Monopoly Commission, the Ukrainian government plans to freeze the assets of four subsidiaries of the Russian gas company, including the Russian gas sales company in Ukraine and the natural gas transit transportation company.

Ukrainian Prime Minister Groesmann issued a message on social media that day, saying that the government has demanded that Gazprom pay fines in accordance with the decision of the Stockholm Arbitration Tribunal and the Ukrainian Anti-Monopoly Commission, with a total amount of approximately US$8.5 billion.

On February 28, the Stockholm Arbitration Tribunal ruled that the Russian gas did not transport sufficient quantities of natural gas to Ukraine according to the contract, and it should compensate Ukrainian Petroleum and Natural Gas Company for US$4.63 billion. After the Ukrainian counterparty should be refunded, the Russian gas should pay 2.56 billion yuan. Dollars.

In addition, the Ukrainian Anti-Monopoly Commission issued a bill of 86 billion hryvnia (about 3 billion U.S. dollars) to Russia in 2016. As the Russian gas has refused to pay, the amount of fines has doubled over the past two years.

Russian Gas had repeatedly stated its position and did not accept the ruling of the Ukrainian Antimonopoly Commission and the Stockholm Arbitration Tribunal.