A PYMNTS Company

Ukraine: Court dismisses Gazprom’s appeal of $6.4bn fine

By  |  February 23, 2017

Kiev Economic court of appeal has dismissed the complaint of Russian gas holding against the decision of the Kiev Economic Court dated December 5, 2016, which upheld the lawsuit of Ukraine’s antimonopoly committee to oblige the Russian company to pay a fine of about $6.4 bln, a spokesman with the court said.

“The appeal of Gazprom has been rejected today,” the spokesman said.

An appeal against the ruling may be lodged at the Supreme Economic Court of Ukraine, she added.

Ukrainian anti-trust authorities claim that the national oil and gas company Naftogaz had suffered an estimated $6 billion in damages as a result of Gazprom’s abuse of its monopoly over gas transiting through the country. Gazprom called the move a pressure-applying tactic, stressing that it did not conduct any business in Ukraine, as it transferred its gas to Naftogaz at the Ukrainian-Russian border.

Full Content: Sputnik News

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.