Oil Co. Seeks Arbitration Against Russian Bank, Refinery

Law360, London (September 11, 2019, 5:47 PM BST) -- A Swiss oil company said Wednesday that it is seeking arbitration in London to resolve a dispute worth several hundred million dollars against a Russian-owned bank and a Russian oil refinery it once worked with over their "damaging" actions.

New Steam Trading AG said in a written statement that it has filed its request to bring action against Sberbank and Antipinsky Oil Refinery, known as ANPZ, at the London Court of International Arbitration.

“NST regrets this turn of events, especially since it previously collaborated closely with ANPZ, one of Russia’s largest and most modern refineries, in promoting and selling ANPZ’s products...

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