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 FM Klimkin: “We’ve got legal tools to force Gazprom pay its debt”

Ukraine has legal mechanisms to make the Russian gas giant Gazprom comply with the ruling of the Stockholm Arbitration Tribunal to pay Naftohaz Ukrainy $2.56 billion.

Ukraine’s Foreign Minister Pavlo Klimkin told a briefing on Monday, March 5, Censor.NET reports citing Ukrinform.

"According to the regulations of the tribunal, they (Gazprom management- Ed.) must pay [the compensation] without delay. They have already violated the arbitration regulations [by not paying it]. They have also violated the arbitration regulations by declaring termination of contracts (with Naftohaz - Ed.) which is is not legally possible... Therefore we are going to use this leverage. Keep in mind that there is the New York Convention on enforcement of arbitral awards (United Nations Convention on the Recognition and Enforcement of Foreign Arbitral Awards). If Russia fails to comply, we shall sue it in courts – we shall file [lawsuits against it] in New York, London, and all other countries. I have already instructed our ambassadors to explore Gazprom’s assets all over Europe. They are scrutinizing it carefully. We hold consultations with the Justice Ministry, that is, we have a system. Gazprom will not be able to evade the execution of the arbitration ruling," Klimkin said.

Read more: Gazprom-Naftohaz situation raises concerns not only for direct supply of natural gas to Ukraine but possibly also for transit of gas to EU, - European Commission

According to him, the current situation with the Russian gas supplies to Ukraine, which has already been resolved, is fundamentally different from the one that occurred in 2006 and 2009.

Klimkin noted that everyone then thought it was "serious," but the history repeated itself twice: first as a drama and then as a comedy.

"That is, Gazprom has staged a comedy and this fact was well realized in Brussels, Berlin and other European capitals. We immediately launched our mechanism (of early warning in the energy sector - Ed.) as part of the Association Agreement, requested to convene a trilateral meeting (Ukraine, the EU and Russia - Ed.) but Russia refused. It just fears that we provide all of this evidence," the minister said.

Read more: "We shall seize Gazprom's assets if it fails to abide by Stockholm arbitration rulings," – NSDC Secretary Turchynov

On Feb. 28, 2018, Stockholm Arbitration Tribunal ruled that Naftohaz be paid $4.63 billion. Following two arbitration proceedings, Gazprom owes $2.56 billion.

Later on, Gazprom transferred Naftohaz Ukrainy the advanced payment it received for gas supplies in March. "Evidently, there will be no gas supplies to Naftohaz Ukrainy starting from March 1," Gazprom Deputy CEO Alexander Medvedev said.

CEO of the Russian gas giant Alexey Miller said March 2 that Gazprom had to immediately start the procedure for the termination of gas contracts with Naftohaz Ukrainy at the Stockholm Arbitration Institution. 

The European Commission called on Ukraine and Russia to find immediate solutions in line with the decisions of the Stockholm Arbitration Tribunal.

Read more: Gazprom's actions make Ukrainian gas transportation system operate in maximum load, - Naftohaz CEO Koboliev

Источник: https://censor.net.ua/en/n3053890