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Will Gazprom Leave Ukraine Forever?

Few expected such a dramatic turn of events in the long-ongoing Russo-Ukrainian gas dispute. Before the February 28 decision of the Stockholm Arbitration Court, most observers expected a court ruling that would largely cancel out the claims of Gazprom and Naftogaz, the national companies of the two nations. Yet the court awarded Naftogaz with $4.63 billion with regard to Gazprom’s under-deliveries as per the valid transit contract, bringing the total decision to a $2.56 billion arrears for Gazprom (it previously decided on a $2.02 billion compensation due to Ukraine’s underpayment of gas in 2014). This has propelled Gazprom to move forward with the cancellation of the Russo-Ukrainian supply and transit contract, a move, which according to some, might bring about a new 2009 style gas war.

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