The Supreme court in Kiev rejected the cassation appeal of “Gazprom” in the fine by $3.4 billion

The Supreme economic court of Ukraine (SHU) dismissed the cassation appeal of “Gazprom” concerning imposed on the company a fine of at 85.9 billion ($3.4 billion), reports “Interfax”.

Russian company demanded to recognise as illegal decisions of the lower courts, which left the complaint of “Gazprom” on the penalty without consideration.

The Antimonopoly Committee of Ukraine (AMCU) has fined “Gazprom” in January 2016. The Ukrainian Ministry said that the Russian company abused a monopoly position in the market of gas transit by main pipelines on the territory of Ukraine.

As stated by the head of AMKU Yury Terentyev, 2009-2015 “Gazprom” has violated the terms of the contract with “Naftogaz” and ignored any request to change conditions of cooperation. In particular, a violation of the contract, the AMC has considered the reduction of the volume of gas that Gazprom pumped to Europe through Ukraine. Under the terms of the document it’s set at 100 billion cubic meters. m However, in 2014 the amount dropped to 62 billion cubic meters of Its losses from the fall in transit volumes, “Naftogaz of Ukraine” was estimated at $6 billion.

“Gazprom” has immediately expressed its disagreement with the penalty. The decision of the AMC the company was considered “an attempt to exert pressure”. At the same time in “Gazprom” announced about the intention to defend their rights and legitimate interests by all available legal means. In April, the Kyiv Economic court has registered a lawsuit by Russian companies.

However, the court refused to consider the claim of “Gazprom”, saying the Declaration was done improperly, and it contained evidence of authority of the person signing the claim. The Russian holding filed a complaint with the Kyiv economic court of appeal, but it upheld the decision of first instance. In June “Gazprom” appealed these two decisions to the Supreme economic court of Ukraine, which is the last of the Ukrainian court.