MainPolitical

Ukraine, Russia sign amicable agreement on antimonopoly claim

The case worth $7.4bn is settled.

Ukraine, Russia sign amicable agreement on antimonopoly claim
Photo: EPA/UPG

Ukraine and Gazprom have signed an amicable agreement under which Ukraine drops its $7.4bn fine slapped on the Russian company by the Antimonopoly Committee, Ukraine's Deputy Justice Minister Ivan Lishchyna has said on Facebook.

The agreement was signed by Ukrainian Justice Minister Denys Malyuska and Gazprom deputy board chairman Yekaterina Burmistrova.

 "I cannot disclose the details of the agreement because it is confidential, but it is important that Russia withdraws its claims, and we do not violate our rule not to conclude amicable agreements in investment arbitrations, according to which Ukraine must pay the investor any compensation," Lishchyna added.

On 22 January 1016, the Antimonopoly Committee of Ukraine fined Gazprom 85.966bn hryvnyas for abuse of monopoly in the gas transit market while using the Ukrainian gas transport system in 2009-15. Because of late fees, the sum has almost doubled up to 172bn hryvnyas.

Gazprom did not agree to pay the fine and launched legal action.

On 19-20 December 2019, Ukraine and Russia, with the mediation of the European Commission, agreed to sign a new gas transit contract.

Read LB.ua news on social networks Facebook, Twitter and Telegram