Swiss court confirms validity and enforceability of transit award. Gazprom conceals its Swiss assets

On Wednesday 16 January, the Cantonal Court of Zug, Switzerland, made a ruling in Naftogaz\'s enforcement proceedings against Gazprom in the Canton of Zug. The Court confirmed that the 28 February 2018 award obliging Gazprom to pay USD 2,56 billion ...

On Wednesday 16 January, the Cantonal Court of Zug, Switzerland, made a ruling in Naftogaz's enforcement proceedings against Gazprom in the Canton of Zug. The Court confirmed that the 28 February 2018 award obliging Gazprom to pay USD 2,56 billion plus interest to Naftogaz is valid and enforceable, and that Gazprom's challenge proceedings in Sweden does nothing to change that. However, the court lifted its previous freeze of debts owing to Gazprom, because the existence of such debts had not been proven.

Naftogaz continues its efforts to enforce the 2,56 USD billion award by all legal means in several jurisdictions, and is now considering which further steps to take in Switzerland. Naftogaz regrets Gazprom's refusal to comply with a valid and enforceable award, and its evasion of enforcement in Switzerland.

Communications Department
NJSC Naftogaz of Ukraine




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