BREAKING NEWS: Russian energy company Gazprom cuts off gas to Ukraine

Russian energy company Gazprom has reportedly cut off its gas supply to Ukraine, as reported on Wednesday, September 28.

Russian energy company Gazprom announced they were cutting off the gas supply to Ukraine on Twitter:

pic.twitter.com/4inwxtSPPH

— Gazprom (@GazpromEN) September 28, 2022

The statement read:

“Gazprom categorically rejects all claims by the Naftogaz of Ukraine regarding the initiated proceedings
on the transit of Russian gas to Europe – services that have not been provided by the Ukrainian party should not and will not be paid for.”

“The Secretariat of the International Court of Arbitration of the International Chamber of Commerce (ICC-ICA)and the current head of Naftogaz of Ukraine were notified to that effect by Gazprom today.”

“Without the proper grounds, Naftogaz of Ukraine refused to fulfill its transit obligations through the Sokhranivka entry point, and the fact of the non-provision of services has been recognized by the Ukrainian company. ”

“Naftogaz of Ukraine is fully aware that, in line with the agreement dated December 30, 2019, failure to fulfill obligations on its part means no payment even if Naftogaz of Ukraine claims a force maieure event to have taken place in Ukrainian territory.”

“Moreover, the said agreement, which was signed in 2019 under Swedish law, stipulated that all disputes
were to be settled in Zurich, Switzerland.”

“Due to the huge number of anti-Russian sanctions imposed, Sweden and Switzerland have moved into the category of countries unfriendly to the Russian Federation.”

“In these substantially different circumstances, Gazprom has been deprived of its fundamental right to a fair and impartial hearing either at the arbitration court or at the state courts in the jurisdiction where
the proceedings are taking place.”

“Gazprom considers the filing of the appeal by Naftogaz of Ukraine to be an unfriendly step in continuation
of the Ukrainian company’s bad-faith behavior, and believes that further attempts by Naftogaz of Ukraine to seek consideration of the dispute at the ICC-ICA may cause the Russian state authorities to have every reason to introduce sanctions against Naftogaz of Ukraine and include the company into their sanctions list.”

 In practice,this will mean a ban restricting Gazprom from fulfilling its obligations to the sanctioned entities as part of its executed transactions, including financial operations.”

The news comes after Russian energy company Gazprom revealed its profits of the first half of 2022, as reported on Tuesday, September 27.

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