Court in London issues order to freeze assets of Gazprom in UK over debt to Naftogaz

Court in London issues order to freeze assets of Gazprom in UK over debt to Naftogaz

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Ukrinform
A court in London has issued an order to freeze assets of Russia’s Gazprom in the United Kingdom so that to enforce the Stockholm arbitration award, whereby Gazprom owes Naftogaz of Ukraine S2.6 billion.

This is stated in a press release issued by Naftogaz on June 19.

“Naftogaz today [June 19] served Gazprom with an order to freeze assets in England and Wales. The order was issued by the Commercial Court in London on June 18, 2018 to enforce the Stockholm arbitration award, whereby Gazprom owes Naftogaz $2.6 billion,” reads the report.

The company added that the court scheduled a hearing on the order for July 6. 2018. “In the meantime, Gazprom is obligated to maintain assets in England and Wales equal to the value of the transit award,” reads the report.

In addition, Naftogaz also notified the London offices of 17 banks, doing business with Gazprom, of the responsibility if they facilitate any reduction in Gazprom's assets in England and Wales.

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