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 Gazprom’s appealing against Stockholm court ruling may take up to three years, Naftohaz CCO Vitrenko says

Appealing the decisions of the Stockholm arbitration court made as part of the dispute between Naftohaz Ukrainy and Russian Gazprom may take three years.

This was said by Yuri Vitrenko, the Chief Commercial Officer of Ukraine’s state-owned gas and oil company, Censor.NET reports citing Interfax-Ukraine.

"The appealing of the arbitration court’s decisions may take three years, if the case will be subsequently (after being heard by the Swedish Court of Appeal) considered by the Supreme Court of Sweden," he said.

According to Vitrenko, if the appeal is granted and the arbitration court makes another ruling, it would take another four years while the decision of re-arbitration could also be appealed against dragging out the litigation indefinitely.

Naftohaz senior executive also said that Gazprom has only a slim chance of successfully appealing the decision of the Stockholm arbitration court.

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 reversed 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.

Источник: https://censor.net.ua/en/n3072329