According to Reuters, a court in The Hague has lifted the seizure of the assets of the Russian gas monopoly Gazprom. This is exactly what the authorities of the aggressor country Russia have been seeking at the international level for a long time.
Points of attention
- Previous attempts by Ukrainian companies to seek compensation for losses related to Russia's actions in Ukraine through lawsuits have been unsuccessful.
- After the court ruling, Gazprom may pursue selling its assets, including stakes in joint ventures and subsidiaries, once again.
What will happen to Gazprom's assets?
Journalists draw attention to the fact that the arrest has been lifted from Gazprom's shares in the gas production companies Wintershall Noordzee and Gazprom International Projects BV
What is important to understand is that the arrest was imposed based on two separate lawsuits by Ukrainian companies Slavutych-Invest and Zhnyva. The issue was compensation for losses related to Russia's actions in Ukraine.
Despite this, the court in The Hague concluded that the seizure of the assets of the Russian gas monopoly could violate the principle of state immunity, which means that these courts cannot judge the actions of another state or state organization.
A year ago, Gazprom tried to sell these assets through an auction.
The company planned to sell a 50% stake in a joint venture with European Wintershall Dea Nederland Asset Holding BV in Wintershall Noordzee BV and a 100% stake in a subsidiary of Gazprom International UK Limited, which owns a stake in the consortium for the development of the Sillimanite deposit.
After the unexpected court ruling, the Russian company may try to sell these assets again.
