Uniper’s subsidiary was threatened with a fine of €14.3 billion in case of a claim against Gazprom outside the Russian Federation
[ad_1]
The Arbitration Court of St. Petersburg and the Leningrad Region satisfied the application of Gazprom Export LLC to prohibit the German Uniper Global Commodities SE and the Swiss METHA-Methanhandel GmbH from continuing proceedings in international commercial arbitration, TASS reported from the courtroom. In case of violation of the ban, the Uniper subsidiary is obliged to pay a fine of €14.3 billion.
Representatives of Gazprom Export insisted that the company cannot participate in foreign arbitration proceedings due to sanctions against Russia, as well as the refusal of some European law firms to work with Russian companies.
A subsidiary of Gazprom filed a lawsuit against Uniper Global Commodities SE and METHA-Methanhandel GmbH on February 21. Uniper’s annual reports, published the same month, said that the company did not rule out recourse to arbitration if the dispute with Russia over the transfer of Unipro shares to the temporary control of the Federal Property Management Agency was not resolved through negotiations
In November 2022, the Uniper concern filed a claim against Gazprom Export in the international arbitration court in Stockholm to receive compensation for losses due to gas shortages. According to the German company’s estimates, it will cost more than €11.6 billion to replace Russia’s gas. Gazprom Export considered the demand unlawful.
The news is being updated.
[ad_2]
Source link
