Support The Moscow Times!

RosUkrEnergo Court Win

RosUkrEnergo, the gas trader half-owned by Gazprom, won an arbitration decision in Stockholm to collect about $532 million from Hungary’s Emfesz.

RosUkrEnergo was awarded $421 million for nonpayment of gas, $106 million in credit interest and 3.4 million euros ($5 million) in legal costs in the March 17 decision, Group DF, which controls Ukrainian businessman Dmitry Firtash’s stake in RosUkrEnergo, said Monday in a statement.

Emfesz’s counterclaims were dismissed, Group DF said. The Hungarian gas trader was seeking $820 million from RosUkrEnergo for breaking a contract, Vedomosti said Monday. RosUkrEnergo is also half-owned by Centragas Holding, a unit of Group DF, which has been in an ownership dispute over Emfesz. 

(Bloomberg)


Read more

Independent journalism isn’t dead. You can help keep it alive.

The Moscow Times’ team of journalists has been first with the big stories on the coronavirus crisis in Russia since day one. Our exclusives and on-the-ground reporting are being read and shared by many high-profile journalists.

We wouldn’t be able to produce this crucial journalism without the support of our loyal readers. Please consider making a donation to The Moscow Times to help us continue covering this historic time in the world’s largest country.