Russian Court Bars Swiss DXT from Arbitration Against Gazprom

A St Petersburg court has barred Swiss energy trader DXT Commodities from pursuing arbitration against Gazprom outside Russia. If DXT proceeds, they face a fine of 385.4 million euros. This is part of more than 10 lawsuits filed by Gazprom against former European clients to prevent international arbitration over halted gas supplies.

A Russian court in St Petersburg on Tuesday barred Swiss energy trader DXT Commodities from pursuing arbitration proceedings against Kremlin-controlled Gazprom outside Russia, the TASS news agency reported, citing the court. The court will fine DXT Commodities 385.4 million euros ($419.32 million) if the Swiss company goes ahead with the arbitration in non-Russian courts, the state-owned news agency reported.

DXT did not immediately respond to a request for comment. Since the end of last year, Gazprom's export subsidiary has filed more than 10 lawsuits with the same arbitration court in St Petersburg against its former European customers and shippers to bar them from suing in international arbitration courts over the halting of its gas supplies in 2022 following Russia's invasion of Ukraine.

German utility Uniper last month said it had appealed a Russian court ruling requiring it to pay more than 14 billion euros if it continues arbitration proceedings against Gazprom, formerly its main gas supplier.