Dutch court seizes Gazprom's assets to award $2.6bln to Naftogaz

Dutch court seizes Gazprom
# 05 June 2018 11:48 (UTC +04:00)

A Dutch court has arrested assets of the Russian energy giant Gazprom in the country to recover $2.6 billion, awarded by the Stockholm arbitration court to Ukraine’s Naftogaz, the Ukrainian company said in a statement on Tuesday, Sputnik reported.

"Last week, Naftogaz of Ukraine filed a motion to arrest Gazprom’s shares in its Dutch subsidiaries and debts of Gazprom's subsidiaries. The motions were filed to secure the right of Naftogaz to recover $2.6 billion from the Russian monopoly under the decision of the Stockholm arbitration court adopted in February 2018. The Dutch court granted these motions, but six out of seven Gazprom subsidiaries in the Netherlands refused to cooperate with court officials. However, all this will not affect the arrest in any way," the statement read.

Naftogaz noted that Dutch court officials were "taking actions" to freeze Gazprom's assets in the Nord Stream AG and Nord Stream 2 AG companies upon a claim filed by the Ukrainian company.

Last February the Arbitration Institute of the Stockholm Chamber of Commerce ruled the Russian company to pay Ukraine's Naftogaz almost $2.6 billion. Gazprom, however, appealed to the court in May, and later demanded to reverse the verdict, stressing that the part of the ruling was written by "a third person," which is a considerable сontempt of court procedures

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