The UK Supreme Court has ruled that RusKhimAlyans, a subsidiary of Gazprom, must cease its lawsuit in Russia against UniCredit. The court upheld an injunction related to a €450 million claim by RusKhimAlyans against the German bank, which stemmed from UniCredit's refusal to pay bank guarantees for a gas project due to Western sanctions. The lawsuit was initially filed by RusKhimAlyans in August 2023 after UniCredit withheld financing for the construction of gas processing plants.
Russia pushes its largest private bank to redomicile, by seeking to suspend the ownership rights of its foreign-registered shareholders https://t.co/K6AIEjfGR3
Britain's highest court upheld an injunction barring a Gazprom subsidiary from pursuing a €450 million claim against UniCredit Bank in Russia after the German lender withheld financing for the construction of gas processing plants because of sanctions. https://t.co/xViLu0GzWQ
Gazprom subsidiary RusKhimAlyans was ordered by the UK's Supreme Court to drop its Russian lawsuit against UniCredit over an aborted gas project. The company sued the bank in August 2023 after it refused to pay bank guarantees citing Western sanctions https://t.co/VuJeqj17WI https://t.co/UaeBcYKdwl
Gazprom subsidiary ordered to stop Russian lawsuit against UniCredit https://t.co/Dlnpag1Aqv
Gazprom subsidiary must stop Russian lawsuit against UniCredit, UK Supreme Court rules https://t.co/Dlnpag28g3