Headlines
Russian court ups penalty against Ukraine's Naftogaz to $1.3 billion, media say
Published by Global Banking & Finance Review®
Posted on April 16, 2025
2 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 16, 2025
2 min readLast updated: January 24, 2026
A Russian court has increased Naftogaz's penalty to $1.3 billion in a gas transit dispute with Gazprom, amid ongoing legal battles.
MOSCOW (Reuters) - A Russian court has increased to $1.3 billion from around $150 million a financial penalty against Ukraine's state energy company Naftogaz over its pursuit of international arbitration to settle a gas transit dispute with Gazprom, Russian news agencies reported on Wednesday.
Naftogaz did not immediately reply to a request for comment.
The St Petersburg region court acted against Naftogaz last year - more than two years into Russia's war with Ukraine - over a five-year gas transit deal that expired on January 1, 2025, after which Russia halted gas exports to Europe via Ukraine.
In May 2022 Ukraine stopped gas transit via the Sokhranovka metering station, declaring "force majeure", a clause invoked when a business is hit by some factor beyond its control. That left only one entry point for transit of Russian gas - Sudzha in Russia's southern Kursk region near the Ukrainian border.
Russia's Interfax news agency said Gazprom also stopped payments for transit via Sokhranovka, while Naftogaz had initiated international arbitration.
Gazprom is fighting off numerous legal cases, with combined claims of around 18.5 billion euros ($20 billion) from European companies, according to Reuters calculations based on court documents.
At the same time, Gazprom has launched reciprocal counter-claims in Russia. Gazprom has already won 10 out of 14 enforcement orders for claims from defendants in Russia.
(Reporting by Reuters; editing by Mark Heinrich)
The main topic is the Russian court's decision to increase the financial penalty against Ukraine's Naftogaz to $1.3 billion over a gas transit dispute with Gazprom.
Naftogaz was penalized due to its pursuit of international arbitration against Gazprom over a gas transit agreement.
The dispute highlights ongoing tensions and legal battles between Russia and Ukraine, impacting European energy supplies.
Explore more articles in the Headlines category
