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Ukraine’s Supreme Economic Court dismisses Gazprom appeal against $3.4 bln fine

12:30 13/07/2016

MOSCOW, July 13 (RAPSI) – The Ukrainian Supreme Economic Court has upheld the lower courts’ rulings over an 86 billion hryvnia ($3.4 bln) fine issued by the Antimonopoly Committee of Ukraine (AMCU) against Gazprom, RIA Novosti reported on Wednesday.

Thus, a cassation appeal filed by Russia’s oil giant was rejected.

Earlier, Gazprom had been fined by the Antimonopoly Committee for abuse of its dominant position on the gas transit market. At that time, the company was ordered to pay the fine until April 12.

According to Gazprom, this fine was unexpected since the firm was not engaged in business activity within the Ukrainian territory. Gazprom states that natural gas is being sold to Naftogaz on the Russian-Ukrainian border.

Russian oil giant appealed the fine in the Kiev Commercial Court but the complaint was returned to the plaintiff without hearing. Later the Kiev Commercial Court of Appeal upheld this decision. Therefore, Gazprom turned to the Supreme Economic Court of Ukraine.

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Ukraine’s Supreme Economic Court dismisses Gazprom appeal against $3.4 bln fine

12:30 13/07/2016 The Ukrainian Supreme Economic Court has upheld the lower courts’ rulings over an 86 billion hryvnia ($3.4 bln) fine issued by the Antimonopoly Committee of Ukraine (AMCU) against Gazprom.
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