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Policy & Regulation

Stockholm verdict blocks progress on Ukraine-Russia transit talks

A long-term deal between Russia and Ukraine on gas transit now seems to hinge on an out-of-court settlement for the $2.56 billion penalty against Gazprom ordered by a Stockholm tribunal last year A long-term deal between Russia and Ukraine on gas transit now seems to hinge on an out-of-court settlement for the $2.56 billion penalty against Gazprom ordered by a Stockholm tribunal last year.
By Andreas Walstad 29 October 2019 Europe & Russia / Policy & Regulation 0 34733
A meeting at the trilateral gas talks on Monday. (EC)

The fourth round of trilateral talks between Russia, Ukraine and the European Commission on gas transit ended without a breakthrough on Monday.

There is now a real sense of urgency to strike a new deal before the current contract expires on 1 January. However, it has become increasingly clear that the Stockholm arbitration award made in early 2018 is a major stumbling block for the negotiations. The court ordered Gazprom to pay Naftogaz Ukrainy $2.56 billion in compensation for having used the Ukrainian...