DTEK Krymenergo is enforcing a 2023 award, made in a Hague-seated arbitration, that orders Russia to pay $207.8M plus interest for the loss of its Crimean power business. It has attached Gazprom group assets in the Netherlands, arguing that the Gazprom companies are Russia’s alter ego. Russia’s action to set the award aside is pending before the Court of Appeal of The Hague.
Latest development May 18, 2026
On May 18, 2026, the District Court of Amsterdam ordered South Stream Transport, the TurkStream operator, to report past and planned transfers of assets worth about €100M or more. Breaches carry a penalty of €500,000 a day, up to €10M. The court refused broader requests for a transfer ban and a temporary director.
Why it matters
The Dutch courts will decide whether a creditor of Russia can enforce against assets of Gazprom companies as Russia’s alter ego, and whether state immunity protects those assets. The answer affects other Ukrainian award holders pursuing Russian state-linked assets in the Netherlands.
Background
DTEK Krymenergo was the main electricity distributor in Crimea before Russia took control of the peninsula in 2014. In February 2018, it brought a claim against Russia under the 1998 Russia-Ukraine bilateral investment treaty (BIT). The Permanent Court of Arbitration (PCA) case runs under the 1976 UNCITRAL Rules and is seated in The Hague. On November 1, 2023, the tribunal found that Russia had expropriated DTEK Krymenergo’s Crimean assets without compensation. It ordered Russia to pay $207.8M in damages plus interest, and about $10.8M in costs.
The District Court of The Hague granted leave to enforce the award in the Netherlands on December 1, 2023. On February 1, 2024, Russia asked the Court of Appeal of The Hague to set the award aside, arguing that the tribunal lacked jurisdiction. That action is pending. On May 2, 2025, the High Court in London stayed DTEK Krymenergo’s English enforcement claim until the Dutch court rules. In the United States, the D.C. Circuit held on February 13, 2026, that U.S. courts have jurisdiction over its petition to confirm the award.
On July 21, 2025, DTEK Krymenergo attached Gazprom International’s 50% stake in Wintershall Noordzee B.V., which holds North Sea gas interests. It also attached assets of South Stream Transport B.V., the Amsterdam-based operator of the TurkStream pipeline. It argues that these Gazprom companies can be identified with Russia or abuse their separate identity. Gazprom International says the attachment blocks a planned sale of the stake to Mazarine Energy. The District Court of The Hague refused to lift the attachment on September 5, 2025. On February 24, 2026, the Court of Appeal of The Hague upheld that ruling and rejected Gazprom International’s immunity defense. DTEK Krymenergo has also sued Gazprom International on the merits of its alter ego claim.
On May 18, 2026, the District Court of Amsterdam ordered South Stream Transport to disclose past and planned transfers of significant assets. DTEK Krymenergo had cited reports that the business could move to Hungary. The Amsterdam court recorded DTEK Krymenergo’s total claim under the award at about $307M as of April 16, 2026.
Timeline 11 events
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JudgmentAmsterdam court orders South Stream Transport to report major asset transfers
The court imposed a penalty of €500,000 a day, capped at €10M, and refused a transfer ban and a temporary director.
italaw: judgment of the District Court of Amsterdam (May 18, 2026)
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AppealCourt of Appeal of The Hague upholds Wintershall Noordzee attachment
The court rejected Gazprom International’s immunity defense. It held that Dutch law allows a creditor to attach assets of a third party it says is liable for the debtor’s debt.
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AppealD.C. Circuit upholds U.S. jurisdiction over DTEK Krymenergo’s petition
The court affirmed the denial of Russia’s motion to dismiss the petition to confirm the award.
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JudgmentAmsterdam court refuses South Stream Transport’s bid to lift attachment
The preliminary relief judge held that whether the company can be identified with Russia belongs in proceedings on the merits.
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JudgmentDistrict Court of The Hague refuses to lift Wintershall Noordzee attachment
The preliminary relief judge rejected Gazprom International’s objections, including state immunity, and found that it had not shown it could not offer substitute security.
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EnforcementDTEK Krymenergo attaches Gazprom International’s Wintershall Noordzee stake
It also attached assets of South Stream Transport held at ABN AMRO, arguing that the Gazprom companies can be identified with Russia.
Rechtspraak.nl: ECLI:NL:GHDHA:2026:181Rechtspraak.nl: ECLI:NL:RBAMS:2025:7244
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OrderHigh Court in London stays DTEK Krymenergo’s English enforcement claim
The court stayed the English proceedings against Russia until the Court of Appeal of The Hague rules on the set-aside action.
Practical Law: Enforcement proceedings against Russia stayed pending outcome of award challenge in the NetherlandsJus Mundi: [2025] EWHC 1060 (Comm)
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FilingRussia asks Court of Appeal of The Hague to set aside award
Russia argues that the tribunal lacked jurisdiction. The set-aside action is pending.
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EnforcementDistrict Court of The Hague grants leave to enforce the award
The preliminary relief judge granted DTEK Krymenergo leave to enforce the award in the Netherlands.
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AwardTribunal orders Russia to pay DTEK Krymenergo $207.8M plus interest
The tribunal found that Russia had expropriated the company’s Crimean assets and also awarded about $10.8M in costs.
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FilingDTEK Krymenergo files treaty claim against Russia over Crimean assets
It filed its request for arbitration under the 1998 Russia-Ukraine BIT and the 1976 UNCITRAL Rules, with the seat in The Hague.