The English court overturned the order to seize Gazprom's assets in England and Wales as part of the enforcement of Stockholm's arbitration award in a dispute with Naftogaz. This is reported by TASS with reference to the statement of the company.
"Today, the English court overturned the order of June 18, 2018 on the arrest of Gazprom's assets in England and Wales. The condition for the cancellation of the order was the obligation undertaken by Gazprom not to alienate Nord Stream AG shares before the end of the hearings in the English court on the case of recognizing and enforcing the decision of the Stockholm Arbitration in the transit case of February 28, 2018, "the report said.
In February 2018, the Stockholm Arbitration decided to charge $ 4.7 billion from Gazprom and 2.2 billion from Naftogaz. After summing up the requirements, Gazprom was due 2.5 billion dollars. The Russian concern challenged the court decision, but Naftogaz tried to enforce it. In June, the London court allowed the arrest of Gazprom's assets in the UK at more than $ 50,000.
In August 2017, before the Stockholm Arbitration Court decided to seize assets, Gazprom organized a project financing for the Nord Stream-2 gas pipeline. The agent for raising loans for 89.7 billion rubles was made by the British company Glas Trust. As a pledge, Gazprom shares were transferred to Nord Stream 2 AG, the gas pipeline operator.