Court Sets Conditional €601 Million Penalty for SEFE Unit

The Arbitration Court of St. Petersburg and the Leningrad Region ruled that SEFE Marketing & Trading must pay €601.1 million to Gazprom Export if it violates an anti-suit injunction. The decision follows the court’s June 8 ruling granting Gazprom Export’s claim to prohibit the company from continuing arbitration proceedings against it at the International Chamber of Commerce’s arbitration court.