March 29, 2018 / 10:38 AM / in 8 months

Gazprom says Stockholm ruling on gas sales to Ukraine will hit profit

A view shows the company logo of Gazprom company installed on the roof of its office building in Moscow, August 10, 2015. Gazprom, Russia's largest gas producer, posted a 71-percent increase in the first quarter net profit to 382.1 billion roubles ($5.91 billion), the company said on Monday. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russian gas giant Gazprom (GAZP.MM) expects its profit to take a hit from a ruling by Stockholm’s arbitration court on gas deliveries to Ukraine, Chief Financial Officer Andrei Kruglov said on Thursday.

It did not say which financial period would be affected.

Gazprom decided not to restart supplies of natural gas to Ukraine after the international arbitration court earlier this year ordered the Russian company to pay $2.56 billion to Ukraine’s Naftogaz after weighing mutual claims and counter-claims related to gas supplies and transit.

Reporting by Andrei Makhovsky in Minsk; Writing by Andrey Ostroukh in Moscow; Editing by Susan Fenton

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