EuroChem North-West 2 will pursue enforcement of the ruling by the Moscow Court, which on 27 November ordered MAIRE S.p.A. group entities to pay jointly and severally more than RUB 171 billion (approximately €2.2 billion). The dispute arose from the Italian engineering and construction group's failure to fulfil its contractual obligations for the construction of a new ammonia and urea production facility in Kingisepp, Leningrad Region.

EuroChem North-West 2 is preparing applications for the seizure of MAIRE's assets and funds in jurisdictions where the group has major projects underway and where Russian court judgments are recognized. These include CIS countries, BRICS member states, as well as countries in Africa and the Middle East.

"MAIRE is attempting to convince its shareholders that the Moscow court ruling is merely a piece of paper that cannot be enforced outside Russia. This is not the case. The seizure of Google's assets in South Africa has clearly demonstrated that Russian court judgments are enforced in friendly jurisdictions. Russia has 96 bilateral treaties on the recognition of court judgments — from China and Argentina to Kazakhstan and Egypt. Wherever MAIRE has assets and projects, we will seek enforcement of the judgment once it becomes final," a spokesperson for EuroChem North-West 2 stated.

EuroChem North-West 2 firmly rejects MAIRE's allegations that its Russian legal proceedings were unlawful. EuroChem North-West 2 is a Russian legal entity and is entitled to protect its interests in the courts of the Russian Federation.

Furthermore, pursuant to the Russian Procedure Code, disputes arising from foreign sanctions restrictions fall within the exclusive jurisdiction of Russian courts. The Supreme Court of the Russian Federation has repeatedly held that sanctions create legitimate grounds for doubting the fairness of court proceedings abroad.

"MAIRE's public reporting for the first nine months of this year contained no information about the multi-billion-dollar claims filed by the Russian party. Now the company appears to be attempting to downplay the significance of the Russian court's decision. However, RUB 171 billion is not an abstract figure — it represents the actual damage caused by the failure to complete one of Europe's largest fertilizer production facilities. We will continue to take all necessary measures to restore justice and protect our legitimate rights and interests," EuroChem North-West 2 concluded.