German Citizen Denied Gazprom Dividends in Court

A court refused to pay a German citizen dividends on Gazprom shares in violation of sanctions.

Consensus

The Arbitration Court of St. Petersburg and Leninggrad Region rejected the claim of a German citizen for dividends from Gazprom.
The claimant held more than 1 million Gazprom shares in October 2022.
Gazprom had decided to pay dividends for the first half of 2022.
The claimant failed to submit documents and did not provide proof of citizenship.
The claimant attempted to bypass sanctions by using a court case instead of following special payment procedures.
Dividends for foreign shareholders from 'unfriendly' countries must be paid to special account type 'C'.
The claimant was a dual citizen of Russia and Germany.
The court ruled that dual citizenship did not exempt the claimant from sanctions-related rules.
The claimant missed the deadline for claiming dividends.
Gazprom returned unclaimed dividends to its profit in 2022.

The claimant sought 87 million rubles in dividends and interest, and the court ruled that he tried to circumvent sanctions through litigation. — vesti
The claimant sought 57.5 million rubles in dividends and 29.9 million rubles in penalty, and the court noted he concealed his citizenship and failed to provide documents. — vedomosti
The claimant sought 87.5 million rubles in dividends and interest, with a claim for 29.9 million rubles as penalty, and the court found he attempted to circumvent anti-sanction rules. — kommersant