ICC tribunal bans Russia's Gazprom from pursuing legal action against ČEZ in Russia

An International Chamber of Commerce (ICC) tribunal has ruled that the Russian majority state-owned energy company Gazprom cannot continue legal proceedings against the Czech energy group ČEZ in Russia, ČEZ said in a statement late on Thursday.

ČEZ initiated legal proceedings against Gazprom in February 2023, seeking compensation of around 1 billion crowns ($44 million), due to the Russian supplier delivering less gas in 2022 than it had been contracted to. The gas deal was complicated by Russia's invasion of Ukraine in February 2022 and the anti-Russian sanctions the EU adopted in response. Gazprom then placed the dispute at a Russian court this year, but the ICC tribunal has now ruled that the dispute between the companies must be resolved exclusively by international arbitration, not in Russian courts.

Author: Anna Fodor