Ukraine has arrested Gazprom's shares in its joint transit venture
Gazprom received orders from the Ukrainian Ministry of Justice to open enforcement proceedings for almost 395 billion rubles and to seize the shares of Gaztransit owned by the Russian company.
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About it the gas giant said in its interim financial statements for three months, which ended on March 31 this year.
It is indicated that the documents arrived on May 12. Gazprom reporting was presented on Wednesday, May 31st.
Gazprom and Naftogaz of Ukraine each own 40,2 percent of Gaztransit shares, and another 19,6 percent belong to Turkish Turusgas. The head office of Gaztransit is located in Kyiv. “The main participants in the project: the Russian Federation is the owner of gas, Ukraine is a gas transiter, and Turkey is the main consumer of gas,” the company’s website notes.
Let us recall the vicissitudes of this squabble, which has been going on for almost two years. The Antimonopoly Committee of Ukraine (AMCU) began an investigation into Gazprom in 2015. At the beginning of 2016, the department imposed a fine on the company in the amount of 86 billion hryvnia (about 180 billion rubles) for allegedly abusing its dominant position in the market for natural gas transit services through Ukraine. We are talking about the period from 2009 to November 2015. Gazprom was supposed to pay the fine in April, but the company challenged the decision. As a result, the Kyiv Economic Court refused to consider the claim, citing improper execution of the application, and in May the appeal court confirmed the legality of this determination.
In June, Gazprom filed a cassation appeal with the Supreme Economic Court of Ukraine, but even there the complaint was rejected. In September, the company asked the Ukrainian Supreme Court to review previous decisions; the application was not accepted for processing. Then the Antimonopoly Committee filed a claim for the forced collection of fines and penalties from Gazprom in the amount of approximately 360 billion rubles (an enforcement fee of 35 billion was later added to this amount). In December 2016, the court fully satisfied these demands; The Russian company's appeal and cassation complaints were rejected.
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