“Gazprom” announced the cancellation of the court decision on the seizure of...

“Gazprom” announced the cancellation of the court decision on the seizure of assets in England

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In return, the company assumed the obligation not to dispose of the shares of Nord Stream AG until the end of hearings on execution of the decision of the Stockholm arbitration on the dispute with Naftogaz

Photo: Ekaterina Kuzmina / RBC

The company “Gazprom” announced that the court in England quashed the decision to arrest the assets of the company in England and Wales. In return the Russian company undertook not to dispose of the shares of Nord Stream AG is stated in received by RBC reported.

The assets were arrested in a dispute of a Russian company with the Ukrainian “Naftogaz” of the contract for gas transit through the territory of Ukraine. In February the Stockholm arbitration court ruled on this dispute, obliging the company to pay the Ukrainian $4,63 billion at the same time was satisfied and the requirement “Gazprom” to “Naftogaz”. Given their Russian company has to pay only $2.6 billion.

Gazprom later challenged the decision of the arbitration. In June, the appeals court for the district of Svea (Sweden) decided to suspend the execution of the decision of the Stockholm arbitration. But a few days later, the High court of England and Wales ruled on the arrest of the company’s assets in the country. The final decision on the case is expected in February 2019, the report said “Gazprom”.