🚨🇷🇺Russia's Gazprom strikes a victory in court against🇵🇱Poland's Orlen. The Russian company expects $290 million in compensation over #gas prices #Poland paid to #Russia from 2018 to 2021. The two companies have to settle the payment terms, but that's hard to come by... 🧵
Gazprom had the right to retroactively charge higher gas prices to Poland and therefore it could gain even more from gas exports ended in 2022, when the transport through the Yamal-Europe pipeline was suspended. This is what an arbitration tribunal in Stockholm ruled, and yet it
did not rule out how to settle the legal dispute and left companies to deal with it. The fact is that Orlen is unable to make any payment to Russia due to existing sanctions applied by Warsaw on any Russian entity. This ruling could pave the way for a more troubling resolution of
the next stage of the arbitration procedure, when Gazprom and Orlen are expected to fight over claims on gas prices in 2021 and 2022, and the same claims Orlen has on non-delivered gas supplies from the Russian company in 2022. In total, Gazprom has around $20 billion in claims
with several EU companies... To explore the gas geopolitics in the EU consider subscribing to my blog 🫴The EU Gas Storage Gamble and the Hormuz Crisis ➡️https://rebrand.ly/RE2640 🫴Ethical Imports: The EU Latest Battle Over Banning Russian Gas Imports https://rebrand.ly/RE2566