Ukraine’s Naftogaz will not pay a $5.3 billion gas bill from Russia’s Gazprom until their long-running dispute in an arbitration court in Stockholm over gas contracts is resolved, Naftogaz said on Jan. 18.
Gazprom said on Jan. 17 it had charged Naftogaz for gas it did not buy under a take-or-pay clause covering the second through fourth quarter of 2016. It said Ukraine was required to pay the bill within 10 days.
