High Court of England and Wales ordered Rusal to pay €214 million

High Court of England and Wales has allowed the enforcement of a €214 million judgment against Rusal and its subsidiary RTI in favor of OWH, the former European subsidiary of VTB. Decision is based on the 2024 London Arbitration. Dispute arose due to the hedging of ruble exchange rate risks in 2019. In 2022, OWH demanded the payment of $43.5 million, but RTI refused, citing sanctions risks. Arbitration recognized this as a violation back in 2024, but Rusal tried to stop the enforcement of the court's decision.