Ukraine Considering Accepting Russian Gas as Payment for Arbitration Ruling

Naftogaz of Ukraine was awarded a $3 billion claim against Russia's Gazprom

uatv
10.12.2019

Photo from Ukrinform-UATV

 

Ukraine is considering the possibility to use gas supplies as compensation for the $3 billion worth of losses inflicted by Gazprom on Naftogaz of Ukraine, President of Ukraine Volodymyr Zelensky said to the press in Paris, Ukrinform reported.

Naftogaz was awarded the $3 billion settlement by the Stockholm arbitration court.

“We talked [with Putin] on the issue of the tribunal on the recovery of funds. We basically took the question of the three billion we won off the table. Our position is simple — we are willing to take gas. This is the compromise we are set to make. This is what we need,” Zelensky said.

The issue of natural gas transit to Europe also was raised at the meeting with Putin. It is no longer a matter of a one-year contract, he stated.

“I maintained the most ambitious terms that are favorable to the Ukraine — 10-year contract. It is very difficult when one side insists on 1 year and we do on 10. I think we will find something in the middle,” Zelensky said.

“It seems to me that we have unlocked this issue. And now at the level of advisers, we will discuss the possibility, format, volume, price and other details of the gas transit agreement,” he added.

Yuri Vitrenko, Executive Director of Naftogaz of Ukraine, said no deal on gas transit was reached during talks in Paris.

Source UATV
date 10.12.2019
categories Economics
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