2020-12-17T19:20:00+02:00 Economy 2023-03-15T06:20:27+02:00

Ukrainian news

Ukrainian news

Naftogaz Group Ex-CEO Vitrenko To Receive OVDPs Worth USD 4 Million As Bonus For Victory In Stockholm Arbitrat

Naftogaz Group Ex-CEO Vitrenko To Receive OVDPs Worth USD 4 Million As Bonus For Victory In Stockholm Arbitration Dispute With Gazprom

Former executive director of the Naftogaz of Ukraine group Yurii Vitrenko will receive government domestic loan bonds (OVDPs) worth USD 4 million as a bonus for the the Naftogaz of Ukraine national joint stock company’s victory in a dispute with the Gazprom gas company (Russia) at the at the Arbitration Institute of the Stockholm Chamber of Commerce.

Vitrenko announced this during a meeting of the Parliamentary Committee on Energy, Housing, and Utility Services, the Ukrainian News Agency reports.

"I did not receive any money. The settlement agreement that is being concluded with Naftogaz states that this money has already paid into the budget and that I am receiving OVDPs worth the amount that Naftogaz owes me instead of my money," he said.

Vitrenko added that he did not demand payment of penalties from Naftogaz for late payment of the bonus.

As Ukrainian News Agency earlier reported, the supervisory board of Naftogaz of Ukraine has decided to pay Vitrenko a bonus of USD 4 million for the outcome of the gas-transit dispute against Gazprom at the Arbitration Institute of the Stockholm Chamber of Commerce.

The Parliamentary Committee on Energy, Housing, and Utility Services has decided not to support Vitrenko’s candidacy for the post of First Deputy Prime Minister for Energy and recommended that the parliament decide on his appointment via a vote.