Naftogaz Group is already sending a payment request to Gazprom to recover $1.37 billion in accordance with the Final Award of the international arbitration in Zurich received by the company on June 20, 2025.
“If Gazprom refuses to comply with the decision voluntarily, Naftogaz will start implementing a strategy for the enforcement of the Russian company’s assets,” the company said in a press release on Tuesday.
As explained by the group, the amount of $1.37 includes the principal debt for gas transit services under the 2019 agreement, as well as penalties and compensation for all legal costs incurred by Naftogaz.
At the same time, the Group continues to enforce another arbitral award – on payment of $5 billion in compensation to the Russian Federation for the illegal expropriation of assets in Crimea in 2014.
“The enforcement process is ongoing at various stages in ten jurisdictions. In Finland and France, there are already first results – Russian property has been seized. In other countries, the work continues,” Naftogaz said.
For reasons of legal strategy, the company is not disclosing additional details at this time.
In most jurisdictions, the interests of Naftogaz are represented by leading local law firms free of charge, on a pro bono basis.
As reported with reference to Naftogaz CEO Serhiy Koretsky, the international arbitration tribunal, which considered in Switzerland the case of Gazprom’s violation of its contractual obligations on the take-or-pay principle, ordered the Russian corporation to pay $1.37 billion in favor of Naftogaz of Ukraine.
“In September 2022, Naftogaz initiated arbitration, which Gazprom tried to block through Russian courts. This did not work. Now we have the final decision: the tribunal of arbitrators from Sweden, Switzerland and Israel completely sided with Naftogaz,” Koretsky wrote on his Facebook page on Monday evening.
He reminded that Gazprom had violated its contractual obligations under the take-or-pay principle since May 2022 by stopping payments.
