MOSCOW, April 30. /TASS/. Naftogaz of Ukraine will have to pay a penalty of over $1.35 bln if it violates Russia's court order banning it from filing lawsuits against Gazprom, according to the arbitration cases database.
Earlier, a TASS correspondent reported from the courtroom that the arbitration court of St. Petersburg and the Leningrad Region had increased the fine for Naftogaz if it violated the ban to file suits against Gazprom from $150 mln to over $1.3 bln.
According to the published court ruling, Gazprom requested the increase, arguing that Naftogaz ignored a previous ruling barring it from opening a case at the ICC International Court of Arbitration. "Moreover, in the foreign arbitration, the defendant increased its requirements to the applicant to the total amount of $1,351,885,710, in particular, $1,305,286,965 worth of the main debt amount, and $46,598,745 worth of contract interest at the rate of 0.03% on the amount of the main debt for each day overdue starting November 14, 2024." Naftogaz also wanted to collect 1.58 mln euro worth of arbitration expenses from Gazprom.
As a result, the Russian court upheld Gazprom’s appeal to raise the penalty on Naftogaz to $1.352 bln, and 1.58 mln euro.
In January, 2024, the Russian court banned Naftogaz of Ukraine from pursuing its case in the ICC International Court of Arbitration. The court then ruled that Naftogaz pay $150 mln to Gazprom if the ban on pursuing the case was not observed. According to the new court ruling, the penalty will exceed $1.35 bln.