National joint-stock company Naftogaz Ukrainy expects that the Arbitration Institute of the Stockholm Chamber of Commerce would issue a verdict in litigations with Russia’s Gazprom by the end of the first half of 2017, Naftogaz Commercial Director Yuriy Vitrenko wrote on his Facebook page.
“We are on the homestretch, hearings will start next month. The arbitration decision is expected by the end of the first half of next year. The decision on the gas purchase contract could be issued earlier – by the end of the first quarter”, he wrote.
Vitrenko added that the Russian monopolist anyway would have to execute the verdict.
“Gazprom would have to execute this decision immediately and the comparison with Yukos’ claim is inappropriate. Gazprom’s assets are not protected by national sovereignty and it has enough assets in Europe that could be used for penalty”, he said.
Naftogaz’s claims against Gazprom in the Arbitration Institute of the Stockholm Chamber of Commerce total over $26.6 billion and Gazprom’s claims – $38.7 billion. (Interfax/Business World Magazine)