Minister Petrenko: Stockholm arbitration ruling is mandatory for all UN member states, including Russia

Minister Petrenko: Stockholm arbitration ruling is mandatory for all UN member states, including Russia

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Ukrinform
Ukrainian Justice Minister Pavlo Petrenko underscores that the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce is mandatory for all UN member states, including Russia.

"The Russian Federation always makes some fake decisions to circumvent the decisions of international courts, but these fake decisions have no legal consequences. The ruling of the Arbitration Institute of the Stockholm Chamber of Commerce is mandatory in the territory of the absolute majority of the United Nations member states that are signatories to the New York Convention that obliges each participating country to enforce court rulings. Russia is no exception, because it signed and ratified this convention,” the minister told a briefing, an Ukrinform correspondent reports.

According to him, a series of legal procedures are currently underway to recover the assets of Russian Gazprom to implement this court decision.

"All their statements are nothing more than a certain manipulation for the domestic consumers, the population of the Russian Federation, who daily watch the fake news," the minister added.

As reported, on February 28, the Arbitration Institute of the Stockholm Chamber of Commerce obliged Gazprom to pay NJSC Naftogaz $4.63 billion in compensation for the failure to meet its gas transit obligations. According to Naftogaz, this ruling means that Gazprom must pay Ukraine about $2.56 billion, taking into account the final payment for gas supplied in 2014 and 2015.

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