A United Arab Emirates court has frozen more than $700 million in assets linked to Russian energy trade. The move was adopted during proceedings between Rosneft's former chief executive, Igor Soglaev, and oil traders under sanctions, the Wall Street Journal reports. The reason was a disruption in the supply of Russian diesel fuel to Brazil. Suglaev claims that former partners from the Coral trading chain destroyed his business. In court he is demanding compensation in an amount exceeding 500 million dollars. Two sums characterize the dispute: the value of the frozen assets exceeds 700 million dollars, while the size of the said claims is over 500 million. Freezing the property by itself does not prove the claims made by the plaintiff. The conflict surrounding the failed fuel deal took on an international judicial dimension. Its further outcome will determine the fate of large assets linked to the trade in Russian energy resources.

A United Arab Emirates court has frozen more than $700 million in assets linked to Russian energy trade. The move was adopted during proceedings between Rosneft's former chief executive, Igor Soglaev, and oil traders under sanctions, the Wall Street Journal reports. The reason was a disruption in the supply of Russian diesel fuel to Brazil. Suglaev claims that former partners from the Coral trading chain destroyed his business. In court he is demanding compensation in an amount exceeding 500 million dollars. Two sums characterize the dispute: the value of the frozen assets exceeds 700 million dollars, while the size of the said claims is over 500 million. Freezing the property by itself does not prove the claims made by the plaintiff. The conflict surrounding the failed fuel deal took on an international judicial dimension. Its further outcome will determine the fate of large assets linked to the trade in Russian energy resources.