- MAIRE seeks damages exceeding €700 million from EuroChem for unlawful contract termination.
- On 21 November 2025, EuroChem was found in contempt of the English court by Mr. Justice Butcher.
- EuroChem's assets, including bonds, are frozen under EU Regulation 269/2014.
- EuroChem is pursuing Russian court proceedings, breaching the arbitration agreement.
Legal Dispute Overview
MAIRE is engaged in a legal battle with EuroChem, seeking over €700 million in damages. The dispute arises from EuroChem NW2's unlawful termination of the K2 Contracts in August 2022, following Tecnimont's suspension of these contracts due to sanctions against Russia.
Court Rulings
On 21 November 2025, Mr. Justice Butcher ruled against EuroChem NW2, citing contempt of the English court for failing to comply with arbitral tribunal orders. Earlier, the English High Court, under Mr. Justice Bright, determined that EuroChem's assets, including bonds, are frozen under EU Regulation 269/2014, prohibiting banks from honoring these bonds.
Arbitration and Sanctions
MAIRE continues to pursue arbitration proceedings, challenging EuroChem's actions based on existing court directions and judgments. The EuroChem group, owned by sanctioned individual Andrei Melnichenko, is accused of breaching multiple orders from international arbitration courts and the English court.
International Implications
Despite the rulings, EuroChem NW2 and EuroChem AG are seeking refuge in Russian courts, violating the arbitration agreement in the K2 Contracts. The Russian judgment, if enforced, would breach the 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards, limiting its enforceability outside Russia.
