January 17, 2019 / 6:22 PM / a month ago

Gazprom says Swiss court overturns injunction on Nord Stream payments

A logo of Gazprom Neft oil company is seen at a petrol station in Moscow, Russia, March 11, 2016. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russian gas giant Gazprom said on Thursday a Swiss court had overturned an earlier decision to issue an injunction blocking payments from the operators of the Nord Stream gas pipeline.

The court had previously ruled that all payments from Nord Stream AG and Nord Stream 2 AG would be directed to Swiss bailiffs, Gazprom said in November, as part of a legal dispute between the Russian gas producer and Ukraine’s Naftogaz.

In June 2014, Gazprom and Naftogaz lodged multi-billion-dollar claims against each other with the Stockholm arbitration court, which resolves commercial disputes.

Naftogaz says Gazprom owes it $2.56 billion after the Stockholm court found in Naftogaz’s favor following a lengthy legal battle.

Reporting by Polina Ivanova and Vladimir Soldatkin; Editing by Mark Potter

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