Ukraine’s gas monopoly to demand $2.6bn from Russia for Crimean assets

Ukraine's gas monopoly to demand $2.6bn from Russia for Crimean assets

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Gazprom challenges Kiev’s $3.4bn anti-monopoly claims in court
“Naftogaz has preliminarily estimated the damage to the group at $2.6 billion,” the company says, stressing that the claim includes property of Naftogaz, Chornomornaftogaz, Ukrtransgaz, Ukrgazvydobuvannia, Ukrtransnafta, Gaz Ukrainy and Likvo. Naftogaz claims the seizure of Crimean energy assets owned by the group violates the bilateral agreement on promotion and mutual protection of investments, signed by the two governments.“After the illegal invasion of Crimea and the occupation of the peninsula in 2014, the Russian Federation applied an ambitious and well-coordinated scheme of depriving Ukrainian companies of their property without paying compensation,” the company says.In March, Naftogaz said it was planning to sue Russia over the Crimean assets, and that it would seek international investment arbitration.Earlier this year, Naftogaz announced the start of compensation negotiations over the nationalizing of Chornomornaftogaz and Ukrtransgaz, which formed o… 'Violation of $17.5bn deal': Future aid to Ukraine in jeopardy over gas monopoly takeover — RT 19 септември 2016 г.

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