Polish Briefing: Naftogaz’s another victory in a dispute with Gazprom

What goes on in Poland on the 22nd of July.

The Amsterdam Court of Appeal dismissed Gazprom’s complaint regarding the jurisdiction of the Dutch court in the dispute between the Russian company and Naftogaz.

The Ukrainian company informed that the decision in this matter was taken on July 8. On the same day, the Luxembourg District Court also ruled in favor of Naftogaz. It dismissed Gazprom’s complaint against the freezing its assets in the territory of that country. This is the effect of the Ukrainians’ enforcement of the arbitral tribunal’s decision in Stockholm.

According to it, Gazprom should pay Naftogaz $ 4.63 billion for gas supplies below the volume recorded in the transit agreement. From this amount, the Ukrainian company managed to physically receive $ 2.1 billion, which, according to the decision on the transit agreement, was calculated as a payment for the gas delivered to Naftogaz by Gazprom in 2014-2015. As part of the enforcement of the remaining amount, Naftogaz managed to occupy assets belonging to the Russian company in the Netherlands.

Previously, Gazprom’s Swiss assets in the companies Nord Stream AG and Nord Stream 2 AG have been frozen. At the beginning of July, the Economic Chamber of the Supreme Court of England and Wales obliged Gazprom to transfer to its Naftogaz account USD 145 million when it received a dividend from Nord Stream 1.