A court in Switzerland has banned the operators of the Nord Stream and Nord Stream-2 gas pipeline from making payments to Gazprom. The money will be redirected to Swiss judicial officers as part of the execution of the decision to recover $ 2.6 billion from Gazprom in favor of Ukrainian Naftogaz. This is indicated in the prospectus for the issue of Gazprom Eurobond, writes the Kommersant newspaper.
Note that the Swiss court imposed provisional measures on Gazprom at the request of the Ukrainian company.
In February, the Stockholm arbitral court levied $ 2.6 billion from Gazprom in favor of Naftogaz for the limited supply of transit gas, including Ukraine's debt. The Russian company has requested the cancellation of the court decision, as "a significant part of the arbitration decision was written not by arbitrators but by another person".
In June, a London court on the Naftogaz seed allowed Gazprom to freeze Gazprom assets in England and Wales to enforce the Stockholm arbitration decision. Subsequently, the freeze was canceled, as Gazprom undertook not to dispose of the Nord Stream shares until the end of the hearings on the execution of the Stockholm arbitration decision. The hearings should start in February 2019.
According to the partner of the EMPP Mergen Doraev legal department, the use of provisional measures is a "standard mechanism" for the execution of the international arbitration decision. Partner "Kulkov, Kolotilov and partner" Oleg Kolotilov explained that the arrest of things and money is more often used as provisional measures, but in the absence of these "the rights of the request of the interviewee towards third parties can be arrested ". He added that Gazprom could challenge the arrest imposed by the state of Switzerland in a higher Swiss court.