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Gazprom's counterclaim on UAH 86 bln fine dismissed by Ukraine's higher business court

Gazprom's counterclaim on UAH 86 bln fine dismissed by Ukraine's higher business courtUkraine's higher business court has dismissed a counterclaim of Russia's Gazprom against decisions of lower instance courts that returned without review its claim challenging the decision of Ukraine's Antimonopoly Committee to fine the Russian company UAH 85.966 billion.

The decision was made on Wednesday.

"The decision of the business court dated April 13, 2016, and the decision of Kyiv's appeal court dated May 18, 2016, in the case are left unchanged, and Gazprom's counterclaim is dismissed," the judge said.

As reported, the Antimonopoly Committee levied the fine on January 22, 2016, after determining that Gazprom had abused its monopoly position in transiting gas through Ukraine. However, Gazprom argues that the Antimonopoly Committee does not have the authority to regulate transit through Ukraine.
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