Gazprom Announces Termination of Supplies to Ukrainian Naftogaz

Gazprom must pay Ukraine's Naftogaz $2.5bn after arbitration decisions

The new rift comes after years of bitter disputes between the gas companies of Russia and Ukraine, exacerbated by the 2014 Russian annexation of Crimea.

Russian gas giant Gazprom said on Thursday it would defend its rights after an worldwide arbitration court found in favour of Ukrainian energy firm Naftogaz in the final stage of a long-running legal battle. It did not give further details.

Taken into account Ukraine's over-2-billion-dollar arrears to Russian Federation for gas deliveries, Naftogaz is counting on receiving about 2.56 billion dollars from Gazprom, he said. Gazprom also demanded payment of the debt for gas delivered to Ukraine between May and June 2014, plus fines.

The price dispute over Gazprom's deliveries to Ukraine ended up at the worldwide arbitration court in Stockholm, Sweden in June 2014, and the arbitrator has now made a decision to award Naftogaz $4.63 billion in damages.

Gazprom was trying to portray Ukraine in a negative light and suggest that it was willing either to let its own population freeze or make it out to be "an unreliable transit company that takes the gas away" from European countries, the company said in a statement.

More news: 'Avengers: Infinity War' Release Date Moves Up One Week

These include cutting short-term consumption and buying extra supplies from Europe, Naftogaz Chief Executive Andriy Kobolev said in televised comments.

He added: "But we will get them".

Meanwhile, Gazprom said earlier on Thursday it would contest the Stockholm order for it to pay Naftogaz $2.56 billion. Gazprom expressed disagreement with such decision and announced its intention to defend its rights by means available with it under current laws.

Disagreements between Gazprom and Naftogaz predate the collapse in relations between Ukraine and Russian Federation in 2014 following the pro-European uprising in Kiev that ousted a Moscow-backed president.

Ukraine is the main route for the Russian gas to Europe where Gazprom accounts for around 35 percent of the market share.

Related News:

  • RB Saquon Barkley ready to be difference maker

    RB Saquon Barkley ready to be difference maker

    They are a good team if you look at the schedule, they won one game (the last 2 years) but obviously they were in a lot of games. We've seen teams take running backs with the fourth overall pick in each of the past two seasons.
    Russia reinstated into Olympic fold

    Russia reinstated into Olympic fold

    Alexander Zhukov , president of the ROC, said: "The Russian Olympic Committee has had its rights fully restored". Russian officials and others had expressed hopes that the ban could be lifted before the closing ceremonies.
    Ruling BJD candidate wins Bijepur Assembly bypoll defeating BJP

    Ruling BJD candidate wins Bijepur Assembly bypoll defeating BJP

    There is nearly nothing that can be said in defence of the Congress's performance Bijepur, as its leaders have candidly admitted. Odisha Chief Minister Naveen Patnaik had spent a night in the constituency during his hectic two-day schedule of rallies.
  • Here's how to get invited to the royal wedding

    Here's how to get invited to the royal wedding

    As reported by the BBC, Justin Welby, the Archbishop of Canterbury, will marry the pair, while the Dean of Windsor , the Rt. The additional attendees will be invited into the castle grounds to watch the couple and their guests arrive.
    Asus ZenFone 5 hands-on review

    Asus ZenFone 5 hands-on review

    It's placed a fingerprint sensor at the back too, so that's one area in which it has an advantage over the iPhone X . Asus didn't say anything about battery life, but did note that all three Zenfone varieties have a 3300-mAh battery .
    Kim Kardashian Tickled Pink ... When Kanye Just Can't Hold It Any Longer!!!

    Kim Kardashian Tickled Pink ... When Kanye Just Can't Hold It Any Longer!!!

    Kardashian also tweeted about the taping, saying that her daughter, North, came to set and wanted to play, but was too young. The truth about Kim Kardashian West , according to the woman herself.
  • Neymar a doubt for Real second leg after breaking bone

    Neymar a doubt for Real second leg after breaking bone

    Despite their double injury blow, PSG proved too strong for their fierce rivals Marseille at the Parc des Princes on Sunday. On Monday morning he posted an image that showed his ankle in heavy strapping and surrounded by a brace.
    Russian Federation  vetoes anti-Iran UNSC resolution

    Russian Federation vetoes anti-Iran UNSC resolution

    The United Nations says that some three thirds of the Yemeni population or 22.2 mln people are in need of assistance. Iran's UN Mission said on February 26 that it " categorically rejects allegations regarding arms transfers to Yemen".
    Punjab CM's son-in-law among 13 booked for bank fraud

    Punjab CM's son-in-law among 13 booked for bank fraud

    The bank had complained to the CBI on November 17, 2017, but the agency registered the case on February 22 this year. According to the OBC complaint, the company had approached the bank in 2011 seeking around Rs 149.
  • This Year's 'Battlefield' Is Going Back to WWII

    This Year's 'Battlefield' Is Going Back to WWII

    Well, this isn't an official confirmation by any means, but a new source is now backing up the previous World War II reports. Of course, Battlefield 1 did very well so now EA's looking to maintain that momentum while transitioning to WWII .
    BlackBerry 'Ghost' with bezel-less display to launch in India soon

    BlackBerry 'Ghost' with bezel-less display to launch in India soon

    This is why this Ghost smartphone will only be released in India and won't really be directly associated with BlackBerry or TCL. The company is intent on introducing the Ghost which will be a bezel-less phone and which will run on the Android platform.
    Biennial Elections to the Council of States (Rajya Sabha) on March 23

    Biennial Elections to the Council of States (Rajya Sabha) on March 23

    The nominations filed will be scrutinised on March 13, 2018 and last date for the withdrawal of candidature is March 15, 2018. In Bihar, the BJP-led-NDA may lose three of the six seats it presently holds in the State.


Most liked

Arsenal legend calls for sacking of Arsene Wenger as manager
Turning to Swanson, Wenger quipped: "I'm just amazed that I have to always answer things that are exactly the same". You have to acknowledge as well that Man City are a quality team".

Z Dethrones Diddy on 'Forbes 5' List
Forbes has released their list of Hip-Hop's wealthiest artist of this year and it's Jay-Z who is on top of it for the first time. Since Forbes began ranking the richest hip-hop artists in 2011, the top spots have alternated between Sean "Diddy" Combs and Dr.

Amid grim flu season, scientists work to find "holy grail" vaccine
Thirty percent of flu tests performed during that time were positive, and 61 percent of those were for influenza B. It also made an appearance during the 1997-1998 and 2003-2004 flu seasons and was once again bad.

Lawmakers 'afraid' of NRA gun lobby group
The original bill was proposed following the 2012 massacre at Sandy Hook Elementary school in Newtown, Conn. Among those at the White House Wednesday were Sens. "Everybody's trying to absorb what we just heard".

Throw the book at those making threats
The parent stated that the shooting would occur at East Paulding Middle School on Thursday, March 1, 2018, at an unspecified time. Three Mid-Del students are in Del City police custody in connection with a shooting threat made against their school.

Weekend Box Office: 'Black Panther' Scores Massive $111.7M in Second Outing
Directed by John Francis Daley and Jonathan Goldstein, the film stars Jason Bateman , Rachel McAdams , and Kyle Chandler. It also means the film ties Jurassic World for the second-fastest movie to reach that total of all time.

Pakistan's ruling PML-N appoints Shahbaz Sharif as new chief
He was first elected as the PML-N president during exile in 2002, due to the registration of cases against Nawaz. Responding to a question, the minister said PML-N will secure a majority in the upcoming Senate elections.

Flu season shows signs of winding down
Meanwhile, public officials are trying to make it clear that the vaccine itself can't cause the flu epidemic. That's because the vaccine is more effective against other types of the flu that are also now circulating.

LG unveils new V30S smartphones with more memory, AI camera features
Coming to the QLens , it can recognize the specific objects in the frame to offer shopping links, price, and image search. The artificial intelligence aspect of the device is given vast importance and can be broken down into several components.

Man Brutally Stabs Women to Death in Massachusetts Public Library
Jeffrey Yao, 23, of Winchester, was arrested at the scene and has been charged with murder and assault with intent to murder. Middlesex District Attorney Marian Ryan said the grievously wounded woman tried to head for the exit before collapsing.

Nokia Joins Android One, Launches 5 New Phones at MWC
Other features include the old standard MicroUSB port, FM Radio, Bluetooth 4.2, 3.5mm headphone jack. The 5.5-inch OLED display has a glass that curves gently around the sides to meet the metal frame.

ZTE Announces Tempo Go Unlocked Smartphone, Priced At $80
It also comes in a subtle Pink shade, although you can't really tell from the photos, thanks to ZTE's terrible choice of lighting. Perhaps the most persuasive aspect of the Blade V9 and Blade V9 Vita, though, is their pretty competitive pricing.

North Korea 'ready' for talks with United States , says South's president's office
A North Korean official reportedly said that the country had "enough" willingness to conduct talks with the US. Later in the day, the White House said "denuclearization must be the result of any dialogue with North Korea".

Nash officially traded to Boston, McDonagh rumors and Ratelle night tonight
Boston began the day with the Eastern Conference's third-best record in preparing to close a five-game road swing at Buffalo . He played for the Buffalo Sabres last season, serving as captain and finishing with 15 goals and 20 assists in 82 games.

China tells USA to stop unilateral North Korea actions
North Korean leader Kim Jong-un's government conducted several missile tests past year , drawing condemnation from the worldwide community.