KIEV (Sputnik) — Gazprom has been litigating with Naftogaz in the Stockholm arbitration court over natural gas delivery from Russia to Ukraine and gas transit through Ukraine since June 2014.
"Their position [Stockholm Arbitration] on the key issues was the following: the condition "take or pay" (the lion's share of Gazprom's financial claims) was removed completely, the ban on re-export was lifted completely, the price formula was revised starting from 2014 — the European hub," Deputy Foreign Minister for the European Integration Olena Zerkal wrote in her Facebook blog.
Ukraine is a key country for transit of Russian gas to Europe, however, the two states have been engaged in gas disputes for years.
Most of Gazprom's claims to Naftogaz within the gas supplies dispute are about the fines for lack of gas purchases in accordance with the "take or pay" rule.
In October 2015, Naftogaz said that it was stopping gas purchases from Gazprom, citing their high prices and stating that any decision to continue to import gas would depend on prices. However, Kiev continues buying transit gas from the European Union and topped its reserves up with gas from Europe, leading to an overall drop in stored gas volumes.