Companies & Finance

Stockholm verdict may be long-term gain for Ukraine

The outcome of the Stockholm arbitration case may have given a psychological boost to Ukraine before negotiations start over a new gas transit deal with Russia The outcome of the Stockholm arbitration case may have given a psychological boost to Ukraine before negotiations start over a new gas transit deal with Russia.
By Andreas Walstad 1 March 2018 0 29801
Naftogaz Chief Executive Andriy Kobolyev. Naftogaz Chief Executive Andriy Kobolyev. (EC)

A Stockholm arbitration tribunal has ordered Gazprom to pay Naftogaz Ukrainy $4.63 billion in damages after having defaulted on its obligations to transmit gas destined for European customers through the Ukrainian network. 

The decision, which was announced on Wednesday, means the Russian company will have to pay Naftogaz $2.56 billion after residual payments for gas delivered to Ukraine in 2014 and 2015 have been settled, the Ukrainian gas company said. The big question now is whether the ruling has strengthened Ukraine’s bargaining power with Russia before...