International courts are considering 15 suits against Ukraine due to unlawful decisions by the previous government headed by former Premier Yulia Tymoshenko, Prime Minister of Ukraine Mykola Azarov has said.
"If Ukraine loses these proceedings and fulfills the rulings of all courts, then two budgets will not be enough [to pay for it all]," he said at a press conference in Kyiv on Tuesday,
According to Azarov, somebody should be brought to account if international courts find Ukraine guilty and oblige it to pay huge fines.
On June 8, the Stockholm Arbitration Tribunal ordered Naftogaz to return the 11 bcm of gas to RosUkrEnergo. In addition, the tribunal ordered that RosUkrEnergo would receive from Naftogaz a further 1.1 bcm of gas in lieu of RosUkrEnergo’s entitlement to penalties for breach of contract. The Ukrainian authorities said they did not have enough natural gas resources to return RosUkrEnergo the gas in question.
Moreover, the Russian Tatneft Company filed a suit against Ukraine seeking $5 billion in compensation for being excluded from a list of shareholders in CJSC Ukrtatnafta (Kremenchuk oil refinery, Poltava region).
