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Ukrainian court rejects Gazprom’s appeal against $6.7 penalty

The Supreme Court of Ukraine rejected Gazprom’s appeal against the decision to impose a penalty of $6.7 bln

The Supreme Court of Ukraine REUTERS/Valentyn Ogirenko

The Supreme Court of Ukraine

© REUTERS/Valentyn Ogirenko

KIVE, September 14. /TASS/. The Supreme Court of Ukraine rejected Gazprom’s appeal against the decision to impose a penalty of $6.7 bln, Ukraine’s UNN News Agency reported Thursday.

"It was denied to set Gazprom’s matter for hearing by the Supreme Court," the report said with reference to the court’s spokesperson.

In February 2016, the Ukrainian Anti-Monopoly Committee (UAMC) decided to impose a fine on Gazprom in the amount of 85.9 bln hryvnias, or around $3.2 bln, over violations of the law on protection of economic competition. Later, the UAMC calculated a 100% penalty charged on the fine. In December 2016, the Kiev Economic Court upheld the claim of UAMC obliging Gazprom to pay the fine and penalty amounting to 172 bln hryvnias.

In August, Gazprom lodged an objection to the Supreme Economic Court of Ukraine demanding to revise the decision to impose a penalty of 172 bln hryvnia ($6.6 bln) on the Russian gas giant.

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