The failed attempt to freeze Europe in order to obtain concessions regarding Ukraine has resulted in Gazprom not only in record losses in its history, but also in lawsuits amounting to tens of billions of dollars. At least 19 companies from 11 European countries have filed lawsuits against the Russian gas monopoly for breach of gas contracts, and their total amount has reached 18.6 billion euros, or $20.6 billion, journalists have calculated.
The largest of them – for 13 billion euros – was filed by the German concern Uniper, formerly Gazprom’s main client in Germany and a co-investor in the Nord Stream 2 project. The company, which purchased 20 billion cubic meters of gas per year from Russia, demanded compensation for multi-billion dollar damages from the cessation of Russian supplies.
In June 2024, the Stockholm Arbitration Court upheld her claim in full. The total amount of claims against Gazprom exceeded its net revenue from gas sales to all external markets combined: $10 billion per year from supplies to Europe and Turkey, $7 billion from supplies to China, and $2 billion from exports to the CIS and Central Asia, according to estimates by the BCS financial group.
Multi-billion dollar lawsuits create risks of arrest of payments to Gazprom in Europe, Russian analysts warn: companies demanding compensation may try to “intercept” the remaining buyers of Russian gas transfers to the companies.
This could happen in particular in Austria, where the national gas operator OMV reported at the end of May that there were attempts to intercept payments to Gazprom.
Source: Racurs
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.