An international arbitration tribunal has ordered Gazprom to pay $1.37 billion to Naftogaz.
This was announced by Serhiy Koretskyy, Chairman of the Board of Naftogaz.
“Since May 2022, Gazprom has violated its contractual obligations under the take-or-pay principle by ceasing payments,” Koretskyy stated.
As a result, in September 2022, Naftogaz initiated arbitration proceedings in Switzerland, which Gazprom unsuccessfully attempted to block through Russian courts.
“Now we have a final decision: the tribunal of arbitrators from Sweden, Switzerland and Israel has fully sided with Naftogaz,” Koretskyy said.
He added that the next stage is to ensure the enforcement of the decision, which the company will now focus on.