Ukrainian regulators powers don't extend to transit contract - Gazprom

Gazprom said in response to a decision by the Ukrainian Antimonopoly Committee to fine it $3.4 billion that the regulator's powers did not extend to gas transit via Ukraine.

"This is a very surprising decision as Gazprom does not engage in entrepreneurial activity in Ukraine, it hands natural gas on the western border of the Russian Federation over to Naftogaz Ukrainy. The decision by the Ukrainian Antimonopoly Committee cannot be regarded as anything but an attempt to put pressure on Gazprom. Gazprom intends to defend its rights and lawful interests by all legally available means," Gazprom said.