Gazprom draws up lawsuit for international arbitration over Ukraine’s antimonopoly fine
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TASS | 21 March 2018

Gazprom draws up lawsuit for international arbitration over Ukraine’s antimonopoly fine

Gazprom does not recognize legitimacy of the fine imposed on the company by the Antimonopoly Committee of Ukraine, and prepares a lawsuit to appeal to the International arbitration, the Russian gas holding said in a statement.

According to the company, Gazprom does not recognize the legitimacy of the fine and considers Ukraine’s actions a violation of its rights, including those guaranteed by the Russian-Ukrainian intergovernmental agreement on the encouragement and mutual protection of investments from November 27, 1998.

Gazprom has already sent a notice to Ukraine about the Ukrainian side violating its obligations to protect investment and is currently preparing a lawsuit to appeal to International arbitration, the company said.

In February 2016, the Antimonopoly Committee of Ukraine decided to impose a fine on Gazprom for 85.9 bln hryvnia ($3.2 bln) due to the company allegedly violating the legislation on the protection of economic competition. Subsequently, the Committee counted 100% of the fine on the fine. In turn, the Russian company filed complaints against the decision of the antimonopoly authority with different courts.

At the same time, a year after the decision of the Ukrainian committee, the fine increased to 172 bln hryvnia ($6.5 bln) due to fines for its non-payment.

source: TASS