An unfounded, recurrent, narrative that Naftogaz of Ukraine blackmails Russia.
The claim of the Ukrainian company Naftogaz against Russia because of lost assets in the Crimea in mentioned, but nothing is against Gazprom. The trial has been going on for several years, and the Permanent Court of Arbitration is in charge of the case. Naftogaz demands compensation of $5 billion from Russia for the loss of assets as a result of the occupation of Crimea. Including interest, this amount has grown to $8 billion. In 2019, the Court found in favour of Naftogaz, concluding that Russia is liable for the unlawful seizure of Naftogaz assets in Crimea under the bilateral investment treaty between Ukraine and Russia. At the moment, the second stage of the arbitration proceedings has begun which will determine the amount of compensation for Naftogaz's losses.
Naftogaz claims that the agreement reached in December 2019 with Gazprom deals exclusively with gas transit issues, while the lawsuit that the Arbitration Court in The Hague is considering involves a completely different area. The difference is that Ukraine already nullified its claims directly against Gazprom for disrupting contracts for gas supplies to the EU, but did not agree to terminate trials against Russia because of lost assets in occupied Crimea. “Why are we suing if, before the New Year, we entered into a settlement? We concluded an agreement with Gazprom, and the Russian Federation is the second side of this process” Naftogaz reported.
The agreement between Naftogaz and Gazprom was reached at the end of December 2019. Gazprom paid Naftogaz about $ 3 billion in compensation for neglecting the terms of the previous contract for gas transit through the Ukrainian gas transport system to the European Union. It is on this key issue that Naftogaz previously won a trial against Gazprom.