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Ukraine to seek seizure of Gazprom's assets abroad

Justice Ministry will use the international legal assistance mechanisms for the recovery of the fine.

Ukraine to seek seizure of Gazprom's assets abroad
Photo: Photo: EPA / UPG

Ukraine will ask foreign states to arrest the property of the Russian Gazprom in order to exact 172 bn hryvnia anti-monopoly fine.

"We have developed absolutely legal mechanisms for the collection of funds and other assets of this company through international legal assistance mechanisms with other countries," Ukrainian Minister of Justice Pavlo Petrenko told reporters on Thursday.

"Clearly, Gazprom does not have assets worth UAH 172 bn on the territory of Ukraine, but we will look to other countries with relevant assets and funds, and will raise the issue of the implementation of decisions of Ukrainian courts to recover the debt," he said.

The Antimonopoly Committee of Ukraine fined Gazprom for a total of 171.8 bn hryvnia for the abuse of monopoly position in the gas transit market.

Gazprom repeatedly challenged this ruling in Ukrainian courts but to no avail.

In May, Ukrainian executive service opened a proceeding to recover this fine from Gazprom and, arrested Gazprom's stake in Gaztransit (Kyiv). Gazprom does not have other assets in Ukraine except for the gas in transit.

Ukraine said that Russian gas would not be confiscated.