The Kyiv Post welcomes feedback about our new website and we stand ready to fix any problems users might encounter in our test phase. Contact us at: news@kyivpost.com or +38-044-591-3344. Thank you!

Share Tweet Pocket Add to Bookmarks
You're reading: Stockholm arbitration rules in favor of RosUkrEnergo

The Arbitration Institute of the Chamber of Commerce in Stockholm has upheld the validity of RosUkrEnergo AG's position in its dispute with Naftogaz Ukrainy, but only in commodity - not monetary - terms, RosUkrEnergo told Interfax.

RosUkrEnergo accused Ukrainian national oil and gas company Naftogaz Ukrainy of stealing 11 billion cubic meters of gas from it. RosUkrEnergo subsequently filed its case in Stockholm arbitration.

"International arbitration’s examination into the suit resulted in a rejection of RUE’s monetary claim but it nonetheless acknowledges the validity of RUE’s position and obligates Naftogaz Ukrainy to return the 11 billion cubic meters of gas to RUE that it took illegally," the RosUkrEnergo official said.

"In addition, in connection with Naftogaz Ukrainy’s illegal actions, international arbitration has ordered it to pay RosUkrEnergo 1.1 billion cubic meters of gas in commodity form in penalties, as stipulated in the contract," RosUkrEnergo said.

Found a spelling error? Let us know – highlight it and press Ctrl + Enter.

Advertisement

Add comment

Sorry, you must be logged in to post a comment.
More in this section
Attention

Add a picture
Choose file
Add a quote
Attention

Are you sure you want to delete your comment?

Attention

Are you sure you want to delete all user's comments?

Attention

Are you sure you want to unapprove user's comment?

Attention

Are you sure you want to move to spam user's comment?

Attention

Are you sure you want to move to trash user's comment?

Spelling error report

The following text will be sent to our editors: