Gazprom Halted Execution of Stockholm Court Ruling on Transit With Naftogaz

"On June 13, the Svea Court of Appeal (Sweden) upheld the request of PJSC Gazprom and ordered the suspension of the execution of the Stockholm arbitration court's ruling of February 28, 2018, on the dispute between Gazprom and Naftogaz of Ukraine on the contract for gas transit through the territory of Ukraine," Gazprom said.

It said the suspension renders attempts by Naftogaz to seize Gazprom's assets abroad baseless.

Ukraine's Naftogaz will soon appeal the Svea Court of Appeal's ruling to suspend the execution of the Stockholm arbitration court's decision on a dispute with Russian energy giant Gazprom, the Unian news agency said citing the company's press service.

Gazprom filed the request after a Dutch court ruled out to arrest assets of the Russian energy giant Gazprom in the country on June 5 in order to recover $2.6 billion, awarded by the Stockholm arbitration court to Ukraine's Naftogaz. The Russian company demanded to reverse the ruling, underlining that the part of the verdict was written by "a third person," which is a considerable сontempt of court procedures.

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The legal battle occurred amid the implementation of the Nord Stream 2 project, which met repeated protest from Kiev, as it could considerably reduce Europe's dependence on the Ukrainian gas transit.