Poroshenko confirms that Russia will pay Ukraine for every dollar gas debt

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“Gazprom” should pay a minimum of 2.56 billion dollars.

The President of Ukraine Petro Poroshenko is confident that “Gazprom” will return the “Naftogaz of Ukraine” all debts owed by Russia at the decision of the Stockholm arbitration, given the daily penalty.

The head of state said in an interview to Ukrainian TV channels.

“All gas agreements with the Russian Federation with all countries of the European Union have an arbitration clause – the Stockholm arbitration court. Today we see that Russia does not fulfill the decision of the Stockholm arbitration not only in part payment of us $ 4.6 billion in compensation for losses, which was won by Ukraine, and in terms of the delivery of gas to us where the Russians were obliged to perform the contract and the court confirmed it. And today, as far as Russia is an unreliable supplier, sees the whole Europe”, – said Poroshenko.

In fact, Ukraine must repay the debt for supplied gas to Gazprom, which is also confirmed by the Stockholm arbitration. However, according to two final awards, “Gazprom” should pay “Naftogaz of Ukraine” of 2.56 billion dollars.

“And in any case, time is working for us. And I want to emphasize and to reassure all Ukrainians – every dollar, according to the decision of the Stockholm arbitration about 4.6 billion dollars, Ukraine will receive. I am absolutely convinced, as President. We coordinate the work of our lawyers. And I don’t have any doubt about this. There is only one thing – each day of delay of payment increases the amount (increasing the penalty), which “Gazprom” should pay us at least half a million dollars”, – said the President.

I want to emphasize and to reassure all Ukrainians – every dollar over the decision of the Stockholm arbitration about 4.6 billion dollars Ukraine will receive. pic.twitter.com/joA0ViodPe

— Petro Poroshenko (@poroshenko) 13 APR 2018

We will remind, on February 28 of this year the Stockholm arbitration court issued a decision in the second dispute between “Naftogaz” and Russian “Gazprom”. The first was at the end of December. The results of both solutions is about gas supplies and transit, Russia needs Ukraine of 2.56 billion dollars. “Gazprom” has confirmed the obligation to pay this amount but stated that it did not agree with the decision of the arbitration.

However, on March 1, Gazprom cancelled the already paid for delivery of gas to Ukraine according to the decision of the arbitration “Naftogaz” on the condition “take or pay” contract in 2018 to purchase from “Gazprom” of 4 billion cubic meters of gas. Russia’s refusal was regarded as an automatic cancellation, this year’s conditions “take or pay”.

Due to the cessation of gas supplies from Russia, which has not begun, on March 2, Ukraine reduced gas consumption by 25 million cubic meters or 14%. The extra gas started to pump from Europe.

March 5, Naftogaz received from Gazprom official notification about early termination of the contracts.

Poroshenko confirms that Russia will pay Ukraine for every dollar gas debt

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