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[size=30]Russia breaks gas contracts with Ukraine[/size]
02/03/2018 06:41 | Number of readings: 197
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Trend Press / Agencies
The Russian gas company "Gazprom" procedures to cancel the contracts for the export and transit of gas with the company, "Naftogaz" Ukrainian, according to announced by the director of the Russian company, Alexei Miller, on Friday.
"Gazprom is obliged to start the process of canceling gas export and transit contracts with Naftogaz at the Stockholm Arbitration Tribunal," Miller told reporters on Friday. "Continuing to work with the Ukrainian side under the current contracts is not economically viable for the Russian company," Miller told reporters on Friday.
Miller said the Stockholm court had ruled on gas issues between the Russian and Ukrainian companies with double standards, adopting an asymmetrical decision on gas supply and transit contracts, and thus the decision violated the interests of the parties in these contracts.
The court ordered Gazprom to pay $ 4.673 billion to Naftogaz for pumping gas to European consumers through the Ukrainian gas system at a lower volume than was stipulated in the contract between the two companies.
According to the ruling, Gazprom is to pay $ 2.56 billion to Naftogaz, after deducting about $ 2 billion the court had ordered the Ukrainian company to pay the Russian company as compensation for failing to pay for the quantities of gas it had received.
During the legal battle, Gazprom based its defense on the fact that the company's customers in Europe cut their purchases of Russian gas, which reflected the transit of gas through Ukraine, but the court refused to take this argument into account.
But the court had accepted Navtogaz's arguments in another case that Gazprom had already had against the Ukrainian company for not committing to purchase the contract amounts from the Russian company. Naftogaz then argued that the deterioration in the Ukrainian economy had prevented its obligations from being met.
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