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Swiss court forbids payments by Nord Stream, Nord Stream 2 to Gazprom

Staff Writer |
A Swiss court has forbidden Nord Stream and Nord Stream 2 to proceed with any payments to shareholder Gazprom as a restrictive measure requested by Ukrainian energy holding Naftogaz Ukrainy, Gazprom said in a prospectus for Eurobonds seen by PRIME on November 9.

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“Temporary restrictive measures were imposed on payments by companies Nord Stream AG and Nord Stream 2 AG to Gazprom. As a result of the prohibition, all payments by these companies to Gazprom are being sent to accounts of Swiss bailiffs,” the company said.

The Stockholm arbitration court ruled in February that Gazprom must pay Naftogaz Ukrainy $2.56 billion for non-shipment of gas, but the Russian company appealed against the decision in March and demanded voidance of the transit ruling in May. Ukraine declared forced collection of the penalty on May 30, and its pleas were supported by the Swiss and Netherlands’ courts.

Gazprom said that all attempts by Naftogaz Ukrainy to arrest shares of Nord Stream AG and Nord Stream 2 AG have been unsuccessful.

The Svea Court of Appeal of Sweden will hold preliminary hearings of Gazprom’s appeal against the Stockholm court ruling on the supply case on November 27, Gazprom also said.

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