Thursday, June 1 2017 22:34 EEST
Business
Ukraine starts recovering Gazprom assets following court rulings
Ukraine,  Starts,  Recovering,  Gazprom,  Assets,  Following,  Court,  Rulings

Ukraine has successfully begun recovering the assets of Russian gas monopoly Gazprom, according to the judgments handed down by court, Minister of Justice of Ukraine Pavlo Petrenko has told reporters, according to an UNIAN correspondent.

To date, the Ukrainian courts have ruled to recover from Gazprom, as a company which abuses its monopoly position, more than UAH 172 billion, according to Petrenko.

The official noted that the mechanisms have been developed of "absolutely legal funds and property recovery from this company, including through mechanisms of legal assistance and cooperation with other countries."

The minister said that certain property owned by Gazprom, which is located on the territory of Ukraine, has already been seized, "such as the shares of companies where Gazprom is a stakeholder."

Petrenko also said "the first sums of money have already been recovered from Gazprom on the territory of Ukraine."

"Very soon we will show this result in figures. They will be pleasant. But we will not dwell on this, although we understand that Gazprom obviously has no assets in Ukraine worth UAH 172 billion, so we will move on to other countries where the relevant assets and cash are present, and we will be raising the issue of the implementation of Ukrainian [court] decisions, and in the future, international decisions, on recovering debts from Gazprom," said the justice minister.

He noted that there are “clear principles in the free world - if you’ve lost the case, if you owe money or property, then you must pay, regardless of what they call you - Gazprom or some other company, and the principle does not work there of a big bear scaring anyone."

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