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Switzerland court cancels interim measures on Nord Stream AG and Nord Stream 2 AG shares

Earlier, the court ruled to impose provisional measures in Switzerland on Gazprom’s assets in these companies on the claims of Naftogaz of Ukraine

MOSCOW, January 17. /TASS/. The court of the canton of Zug (Switzerland) on January 16 decided to completely repeal its ruling from May 29, 2018, imposing interim measures in Switzerland on Gazprom shares in Nord Stream AG and Nord Stream 2 AG and on the claims of Gazprom on these companies, the Russian gas holding said.

According to Naftogaz of Ukraine, which is trying to enforce the decision of the Stockholm arbitration from February 28, 2018, the court of the canton of Zug previously ordered to impose interim measures in Switzerland on the assets of Gazprom in Nord Stream AG and Nord Stream 2 AG.

As a result of enforcement of the court judgment, interim measures were imposed only on the claims of Gazprom to Nord Stream AG and Nord Stream 2 AG.

On February 28, 2018, the Stockholm Arbitration made a final decision on the dispute between Gazprom and Naftogaz of Ukraine under a contract for the transit of gas through the territory of Ukraine. Due to substantial procedural violations committed by the arbitrators, on March 29, 2018, Gazprom appealed to the Court of Appeal of Svea District (Sweden) with a statement challenging the final decision from February 28, 2018, and its partial annulment. On May 28, 2018, Gazprom filed a statement to the court for the complete reversal of the decision.

In late May - early June, Naftogaz announced that, according to a decision of the Stockholm arbitration, which ordered Gazprom to pay the Ukrainian company $2.56 bln for the short supply of gas for transit, it began imposing a fine through the arrest of Gazprom’s European assets in Switzerland, UK and the Netherlands.

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