Poland may seize assets if Russia’s Gazprom fails to abide by court ruling, official says

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Photo by Pavel Kapysh / Shutterstock.com

A Polish official has suggested his country will seize assets belonging to Gazprom if the Russian gas giant does not pay back some USD 1.5 billion following a ruling by an international arbitration court, Polskie Radio S.A. (Polish Radio) reports. 

Photo by Pavel Kapysh / Shutterstock.com

Polish state-run oil and gas company PGNiG said at the end of last month that Russia’s Gazprom would have to pay it back that sum following a decision by an arbitration court in Stockholm. The ruling came in a case over a pricing dispute that began in November 2014.

“The case of Ukraine’s Naftogaz, which won USD 2.6 bln [in a commercial dispute] with Gazprom, showed that by carrying out a tough recovery procedure it is possible to obtain money” awarded by a court, Polish Deputy Minister for State Assets Janusz Kowalski told daily Gazeta Polska Codziennie in an interview, quoted by public broadcaster Polish Radio.

Kowalski said that “The Ukrainians, after a ruling in their favor, began to seize assets of the Russian group in Europe. This path proved effective. That’s why we will also go down this road.”

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