03:29 GMT +320 June 2018
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    The stand with the Gazprom company's logo at the Sochi International Investment Forum 2016

    Ukraine's Court Upholds Decision to Seize Russia's Gazprom Property

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    Ukraine’s supreme economic court dismissed the appeal of Russia's Gazprom demanding to cancel the decision of lower courts on enforced recovery of $6.4 in favor of Ukraine and seizure of the company's property.

    KIEV (Sputnik) – Ukraine’s supreme economic court dismissed on Tuesday the appeal of Russian energy giant Gazprom which was demanding a reversal of the decision of lower courts on enforced recovery of around $6.4 billion in fines from the country in favor of Ukraine, a Sputnik correspondent reported.

    "The Anti-monopoly Committee received the ruling on opening up proceedings and on seizure of property," the committee’s lawyer Mikhail Novitsky said.

    Gazprom launched the appeal in March.

    Ukraine’s enforcement service opened later Tuesday proceedings to recover the $6.4-billion fine from Gazprom over alleged abuse of monopoly position on the gas transit market within the period from 2009 to 2015.


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