Global tech group MAIRE has said its subsidiary Tecnimont has secured immediately enforceable conservatory measures to freeze approximately €1.1 billion of assets belonging to Russia’s EuroChem Group, marking a major escalation in their ongoing international dispute.

 

The orders follow leave granted by the ICC Arbitral Tribunal seated in London, which authorised Tecnimont to seize EuroChem’s assets in every country for the full €1.1 billion. Further seizure requests are already under way in multiple jurisdictions, the company said.

 

The tribunal also ruled that Tecnimont is entitled to seek asset-freeze measures worldwide as security for additional potential damages arising from what it described as EuroChem Group’s recent unlawful legal actions in Russia.

 

The latest decision adds to a growing list of rulings against EuroChem. According to MAIRE, numerous prior orders from the arbitral tribunal — as well as a judgment from the English High Court — have found that EuroChem’s Russian initiatives amount to a “flagrant violation” of the arbitration agreement designating London as the sole competent jurisdiction.

 

Momentum continued last week. On 18 December 2025, the Court of Appeal fully upheld the English High Court’s 21 November 2025 judgment, which declared the legal actions brought by EuroChem against Tecnimont in Russia to be unlawful.

 

MAIRE said it will continue to respond firmly to protect its rights and those of its subsidiaries, acting in line with applicable laws, due process, and international treaties, while awaiting the final outcome of the London arbitration proceedings, expected in 2026.