Despite sanctions, Hague court lifts freeze on Russian Gazprom assets
Photo: The Hague court lifts arrest of Gazprom assets (Getty Images)
The District Court of The Hague has lifted the freeze of Gazprom's assets in the Netherlands. The case concerns Gazprom's stakes in the gas extraction companies Wintershall Noordzee and Gazprom International Projects BV, according to Vedomosti.
The assets had been frozen following lawsuits filed by Ukrainian companies seeking compensation from Gazprom for damages.
Gazprom attempted to sell assets
In March last year, Gazprom attempted to auction off its assets in the North Sea, offering a 50% stake in its joint venture with the European company Wintershall Dea Nederland Asset Holding B.V. — the company Wintershall Noordzee B.V. (WINZ) — as well as a 100% stake in its subsidiary Gazprom International UK Limited, which owns a share in the Sillimanite gas field development consortium.
The starting price for the deal was set at 344 million euros. The deal perimeter also included 100% of shares in Gazprom UK Limited, which owns Gazprom UK Resources S.A. The latter holds a stake in the Wingate gas field development consortium. WINZ holds stakes in both the Sillimanite and Wingate gas field consortia.
Gazprom's legal defeats
In February 2025, Russia’s Gazprom lost a case at the ICC Arbitration Court. The court ruled in favor of the Czech utility company ČEZ.
In June, Ukrainian Naftogaz won an arbitration case against Gazprom. The Russian company was ordered to pay Ukraine $1.37 billion in damages.
According to Ukrainian President Volodymyr Zelenskyy, Ukraine has secured several favorable international arbitration rulings totaling $6.9 billion. These funds are being prepared for recovery from Russia and Gazprom.
