Ukraine and Russia both claim victory in gas dispute

23 Dec 2017   Russia, Ukraine

Ukraine’s Naftogaz and Russia’s Gazprom both claimed victory on Friday in a long-running gas dispute, each saying a Stockholm court had ruled in its favor over a gas contract. The dispute is a by-product of the worsening relations between Kiev and Moscow since Russia’s annexation of Crimea and the eruption of Russian-backed separatist violence in Ukraine’s Donbass region, which has killed more than 10,000 people. In June 2014, Gazprom and Naftogaz lodged multi-billion-dollar claims against each other with a Stockholm arbitration court, which resolves commercial disputes. In line with its policy, the Arbitration Institute of the Stockholm Chamber of Commerce declined to comment or even to confirm it is handling the case, so it was not possible to obtain an impartial account of what is the final ruling in this case. Gazprom appealed a May ruling by the court over a ‘take-or-pay’ clause in a 2009-2019 […]

Tags:

Comments are closed.