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London court rules to freeze assets of Gazprom in lawsuit filed by Naftogaz

Naftogaz today served Gazprom with an order to freeze assets in England and Wales

KIEV, June 19. /TASS/. The Commercial court in London court rules to freeze Gazprom's assets as part of the implementation of the Stockholm Arbitration award, Naftogaz of Ukraine said in a press release on Tuesday.

"Naftogaz today served Gazprom with an order to freeze assets in England and Wales. The order was issued by the Commercial Court in London on June 18, 2018 to enforce the Stockholm arbitration award, whereby Gazprom owes Naftogaz $2.6 bln. In addition to freezing assets, it requires Gazprom to provide Naftogaz with a list of all assets with a value greater than $50,000 located in England or Wales," according to the press release.

The court may grant more time to Gazprom to compile this list, but if Gazprom refuses to do this it may face fines or other sanctions, according to the statement.

The court also imposed a number of restrictions with regard to a possible change in the value of assets of the Russian company in these countries.