Ukraine seeks Stockholm arbitration to contest Russian gas prices
MOSCOW, April 11 (RAPSI) - Ukraine’s Energy Ministry plans to file an application with the Arbitration Institute of the Stockholm Chamber of Commerce to review the country’s natural gas contracts with Russia, Energy MinisterYuri Prodan told reporters Friday.
Earlier, presidential candidate Yuri Poroshenko called upon the Ukrainian government to require Naftogaz to file an arbitration claim in Stockholm to revoke a 2009 contract with Gazprom pending Russia’s refusal to amend it.
Prodan added that the Ukrainian government plans to hire attorneys with experience in similar arbitration disputes in Stockholm.
In April, the price of Russian natural gas for Ukraine nearly doubled to $485.50 per cubic meter, following the revocation of privileges stipulated in Gazprom’s contract with Naftogaz.