Ukrainian Ministry of Justice collects UAH 81 million from Gazprom

Doing business in Ukraine: Ukrainian Ministry of Justice collects UAH 81 million from Gazprom

#Ukraine has imposed an #antitrust #fine of 172 #billion #hryvnia against #Russian #Gazprom for #abusing its #dominant #position in the #gas #transit across Ukraine. The Ukrainian Ministry of Justice has already collected the first 80.8 million hryvnia, in particular, the #dividends distributed by third parties to Gazprom.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

Ukrainian Minister of Justice Pavlo Petrenko told the press that the Ministry of Justice of Ukraine collected from Gazprom first UAH 80.8 million (about EUR 2.8 million) out of UAH 172 billion (about EUR 5.9 billion) fine imposed by the court. These are the assets which were identified in Ukraine and traced back as dividends distributed by third parties to Gazprom.

The collection is carried out on the basis of the decision of the Kyiv Economic Court, which imposed an antitrust fine of UAH 171 billion 932 million against the Russian energy giant Gazprom for abuse of dominant position in Ukraine at the request of the Ukrainian Antimonopoly Committee. In addition to UAH 80.8 million already collected, the Ministry of Justice has also seized the shares in the company Gaztrans held by Gazprom with a nominal value of UAH 33.3 million.

The proceedings started in January 2016 when the Ukrainian antitrust authority imposed a fine of UAH 85 billion on the Russian Gazprom for abuse of dominant position in gas transit across Ukraine. This decision was repeatedly challenged and upheld by Ukrainian courts. Since then, the fine has grown to UAH 172 billion. On 17 March 2017, the Kyiv Economic Court ruled to collect UAH 172 billion from the Russian gas company on the basis of the court decision of the last instance. On 11 April 2017, the Ukrainian Antimonopoly Committee requested the Ukrainian State Enforcement Service to initiate enforcement proceedings against Gazprom.

In addition, Gazprom and Naftogaz have filed lawsuits against each other at the Stockholm arbitration tribunal. In particular, according to Naftogaz and the Ukrainian Ministry of Foreign Affairs, the Stockholm Arbitration Court has recently ruled for approval of the Kyiv’s basic demands in the lawsuit against Gazprom. The respective interim award was issued on 31 May 2017.

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