Ukraine, Russia both claim win in gas dispute

Ukraine and Russia on Friday both claimed victory after arbitration aimed at settling a ferocious dispute over a 2009 energy contract.

In its decision, the Stockholm arbitration court lowered the price Russia can claim for its gas, but also maintained the obligation for Kiev to buy gas from its neighbour, although in much smaller volumes.

Since the pro-Western authorities came to power in Ukraine in 2014, the two neighbours have been waging a furious legal battle over multi-billion-dollar claims Moscow and Kiev have against each over.

The decision was not made public and the details have been only partially revealed by each of the parties.

"Naftogaz has won the arbitration", Ukraine's state energy company summed up in a statement.

"In spite of Naftogaz's claims, the arbitrators have found the main principles of the contract to be valid and satisfied a large part of Gazprom's requirements," the Russian gas giant replied.

The Ukrainian company was seeking to win back $18 billion (16 billion euros) that it argued it overpaid to Gazprom in 2011-2015 after being charged "non-market" prices.