Moreover, this ruling affects other financial and construction entities involved in similar disputes. For instance, Linde Engineering halted its construction of a natural gas plant in the St. Petersburg region after identifying that exporting the gas would violate EU sanctions, leading to RusChem demanding repayment of more than €738 million in advance payments.
Top UK Court Blocks Gazprom Unit’s Russian UniCredit Claim: Legal Representation and Next Steps
RusChemAlliance is represented by Alexander Gunning KC and Alexander Brown of One Essex Court, with Enyo Law LLP providing legal guidance. Conversely, UniCredit’s defense is bolstered by Stephen Houseman KC, Stuart Cribb of Essex Court Chambers, and Jonathan Harris KC of Serle Court, under the instruction of Latham & Watkins LLP.
The case, officially titled UniCredit Bank GmbH v. RusChemAlliance LLC, case number 2024/0015, continues to develop in the Supreme Court of the United Kingdom, with both parties awaiting the full judicial opinion that will provide further clarity on the international legal standards applicable in cases influenced by geopolitical sanctions.
