Ukraine-Russia Gas Claims Rocket to $50B

摘要

The aggregate sum of the claims and counterclaims in Russia and Ukraine’s never-ending natural gas war is set to reach $50 billion after developments this week, and with no end to the litigation in sight the amount is almost certain to continue escalating. Russia’s Gazprom this week announced that it has asked the court of international arbitration in Stockholm to include the $2.55 billion it had invoiced Naftogaz Ukrainy in January into the company’s claim, bringing the total amount to $31.7 billion (NC Jan.21’16). The entire claim relates to the "take-or-pay" clause in the two companies’ 2009 gas supply contract, with the latest addition pertaining to the third quarter of 2015. The first, second and fourth quarters were exempt from the "take-or-pay" clause as part of gas talks earlier in the year.