Gazprom appealed the seizure of its assets in Luxembourg following a lawsuit from Ukraine

Naftogaz of Ukraine has demanded the seizure of Gazprom's debt and assets in Luxembourg, reports a PolitNavigator correspondent.

This was stated in Gazprom’s financial report for 2018, which was published on April 29.

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The Russian gas monopolist appealed the Ukrainian company's demand.

“On February 15, 2019, NJSC Naftogaz of Ukraine sent to the Luxembourg divisions of the largest banks and Gaz Capital SA (a subsidiary of Gazprom - ed.) a notice of seizure of any debt and assets of PJSC Gazprom in Luxembourg. On April 15, 2019, PJSC Gazprom, in order to protect its rights, applied to the court of the city of Luxembourg with a statement to challenge the arrest and enter into the process,” the document reads.

Let us recall that on February 28, 2018, Naftogaz won a claim against Gazprom in the Stockholm Arbitration Court. As a result of two arbitration proceedings, Gazprom must pay Naftogaz compensation in the amount of $2,56 billion. The company also stated that since March 1, 2018, a penalty has been imposed on the amount of the Russian company’s debt. Gazprom appealed these decisions. The appeal hearing is due to take place in October 2019.

Earlier, Naftogaz stated that if gas transit through Ukraine is stopped, the company will seek from Gazprom to enforce the decision of the Stockholm Arbitration.