Gazprom announced the break of contracts with Naftogaz
Gazprom announced that it is forced to immediately break the contract with Naftogaz for the supply and transit of gas. This was stated by the head of the Russian state-owned company Alexei Miller, RIA Novosti reported.

The decision was made after the verdict of the Stockholm Arbitration Court in the proceedings between the two companies. As Miller noted, the arbitration "took an asymmetric decision", which violated the balance of interests of the parties under the contracts.

"The arbitrators argued their decision by a sharp deterioration in the state of the Ukrainian economy. We are categorically against Ukraine's economic problems being solved at our expense, "he said, adding that in the current situation, the Russian side considers the continuation of contracts to be economically inexpedient and unprofitable.

Gazprom and Naftogaz initiated the proceedings as early as 2014. As it became known on February 28, the Stockholm Arbitration Court ordered Gazprom to pay Naftohaz $ 4.6 billion for the shortage of agreed gas volumes for transit in the contract. Taking into account the previous arbitration decision, according to which Naftogaz is obliged to pay Gazprom $ 2 billion for the deliveries, the Russian side owes the Ukrainian 2.56 billion dollars. In Gazprom, they announced that they do not agree with the court's decision and intend to defend their rights.

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