Court freezes stakes of Nord Stream AG and Nord Stream 2 AG developers

The court has frozen stakes of developers of Nord Stream AG and Nord Stream 2 AG pipelines under an arbitration procedure between Gazprom and Naftogaz, Interfax reports citing a source in the industry.

These are reportedly interlocutory injunctionы only; Gazprom is expected to appeal the decision.

The parties have not commented on the court ruling yet.

Earlier, the Stockholm arbitration court ruled that Gazprom is to pay a $4.7bn fine under the transit contract. Gazprom appealed the verdict and said it rescinds its contracts with Ukraine.