KYIV, June 1. /TASS/. Kyiv economic court will revisit the issue of foreclosure in favor of the state budget of Ukraine of the net profits of the company “Gaztranzit” in the account of the competition authority penalty of “Gazprom”. As reported in the Unified state register of court decisions, 29 the court may set a hearing on the case, which was initiated by the State Executive service of Ukraine, on June 12.

See also

International arbitration dispute “Gazprom” and “Naftogaz of Ukraine”. Dossier

Earlier economic Court of Kiev has twice adopted a decision on the recovery of the state budget of part of the net profit of “Gaztranzit” in the amount 79,877 million accrued in the form of dividends “Gazprom”. But both times it was reversed in the higher courts.

In February 2016 the Antimonopoly Committee of Ukraine (AMCU) has decided to fine “Gazprom” to 85,9 billion hryvnia (about $3 .26 billion at current exchange rates) allegedly due to violations of the law on protection of competition. Subsequently, the Committee has counted 100% of the interest on this fine. In December 2016, the Economic court of Kiev satisfied the claim of the AMC for compulsory collection of fines and penalties from “Gazprom” in the amount of 172 billion hryvnia (about $6,53 billion). The appeal of “Gazprom” were not satisfied in the Ukrainian higher courts.

“Gazprom” and “Naftogaz of Ukraine” owns 40.2% of the shares of “Gaztranzit”, 19.6% of the shares owned by the Turkish company Turusgas. “Gaztranzit” was established in November 1997 for implementation of the Ukrainian-Russian agreements on increase of volumes of transit of Russian gas to Turkey and the Balkans.