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Statement of Transneft Press Service

Date of publication: 13 July 2017 Printable version

On 21 June 2017, the Moscow Commercial Court ruled to satisfy the plaintiff’s claim of Transneft against Sberbank regarding the transaction invalidation, enforcement of implications of the invalidated transaction, and the recovery of RUB 66.5 billion from the Bank.

Today, 13 July 2017, during the session of the Moscow Commercial Court, devoted to procedural matters, Sberbank representatives made effort to frustrate the litigation and staged a walkout which could be regarded only as an attempt to put pressure on federal judges of the Russian Federation, hearing the litigated case. The Sberbank representatives sought unmotivated recusal of the judge who adjudicated in the given case and defiantly refused to submit the recusal motion with indication of the grounds to the Court and Transneft, thereby demonstrating their explicit contempt of the Court.

The Commercial Court turned down the recusal motion and rejected the Bank’s arguments that actually came down to the summons to revise the judgment which did not favor the Bank.  

Earlier Sberbank had set in motion a massive public campaign that stirred a morbid media hype, deliberately distorting the essence and facts of the case.

Transneft regards such actions of Sberbank as inexcusable and such methods of resolving the dispute – as illegal, in contravention of the law, and as interference with the activities of the judicial system. 

In the end the Court ruled that the verdict in favor of Transneft does not need any clarification as regards the amount to be refunded on the invalidated transaction.

Press Service of Transneft
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