Gazprom Appeals Ukraine's $6Bln Antitrust Fine - Statement

Russian energy giant Gazprom has lodged an appeal against the decision of the Ukrainian antimonopoly committee that imposed $6-billion fine on the company for alleged antitrust breaches, Gazprom said on Thursday.

MOSCOW (UrduPoint News / Sputnik - 25th October, 2018) Russian energy giant Gazprom has lodged an appeal against the decision of the Ukrainian antimonopoly committee that imposed $6-billion fine on the company for alleged antitrust breaches, Gazprom said on Thursday.

"Today, Gazprom initiated arbitration proceedings against Ukraine, in accordance with the UNCITRAL Arbitration Rules, in order to protect its investments on the Ukrainian territory over the unreasonable and unfair fine of more than $6 billion Dollars (including penalties) that the Ukrainian antimonopoly committee imposed on Gazprom for allegedly abusing its monopoly on the Ukrainian gas transit market," the company said.�

The statement noted that the fine, as well as the subsequent actions of Ukraine to recover it, violated the rights of Gazprom, which are guaranteed by the Russian-Ukrainian intergovernmental agreement on promotion and mutual protection of investments dated November 27, 1998.