Arbitration obligated "Gazprom" to pay "Naftogaz" 1.37 billion dollars, — Koretskyi

Arbitration obligated "Gazprom" to pay "Naftogaz" 1.37 billion dollars, — Koretskyi

The International Arbitration Tribunal has ordered the Russian "Gazprom" to pay $1.37 billion in favor of NJSC "Naftogaz of Ukraine".

This was reported by the head of the company, Serhiy Koretskyi.

According to him, the arbitration took place in Switzerland. It concerns the breach of contractual obligations by "Gazprom" since May 2022 under the "take or pay" condition—the Russian side ceased payments under the contract.

Naftogaz filed a lawsuit in September 2022; however, "Gazprom" attempted to block the process through the Russian legal system, but unsuccessfully.

"We have a final decision. Arbitrators from Sweden, Switzerland, and Israel fully sided with us. This is a very important victory. The next step is to ensure the enforcement of this decision," emphasized Koretskyi.