ČEZ sues Gazprom for damages worth CZK 1 billion

Czech energy giant ČEZ has launched legal proceedings against Russia's Gazprom for its cutting of natural gas supplies to Czechia last year, the Czech News Agency reported on Thursday. ČEZ is seeking compensation for damages worth around CZK 1 billion. The outcome will be decided by a three-member legal tribunal.

The Kremlin-controlled Gazprom has the world's largest natural gas reserves and a monopoly on exporting gas from Russia through a network of pipelines. Gapzrom started cutting supplies to ČEZ, as well as to other companies in Europe, after EU countries imposed sanctions on Russia last year over the war in Ukraine.