«Gazprom» has begun arbitration proceedings against Ukraine

© RIA Novosti / Maxim to Aminopherase in photosangelina PJSC Gazprom. Archival photo«Gazprom» has begun arbitration proceedings against Ukraine© RIA Novosti / Maxim to Aminopherase the image Bank

«Gazprom» has initiated arbitration proceedings against Ukraine because of the fine of six billion dollars in an antitrust case.

The measure taken in accordance with the Arbitration rules of UNCITRAL — United Nations Commission on international trade law.

We are talking about the fine, which the Antimonopoly Committee of Ukraine (AMCU) has imposed on «Gazprom» for «abuse of a monopoly position in the market of transit of gas.»

The Russian company this step is called unfounded and unfair and said that they will protect their investment on the territory of Ukraine.

The company also noted that Ukraine’s actions violate the rights of «Gazprom» guaranteed by the agreement between the government of Russia and Cabinet of Ministers of Ukraine on encouragement and mutual protection of investments of November 27, 1998.

The Russian side asks for arbitration to make a decision on payment of monetary compensation.

Antitrust case

A fine set from 2015. Initially, he was 86,86 billion hryvnia ($3.2 billion).

In «Gazprom» have reminded that the Russian company does not conduct business activities on the territory of Ukraine, but to overturn the penalty failed.

A year ago, the AMC sent the claim to Economic court of Kiev on the forced recovery from the company the entire amount of penalty and interest on the same amount for late payments, that is, a total of about 6.4 billion.

The Supreme court of Ukraine refused to consider the cassation appeal of «Gazprom» the decision of Economic court.