Russian court may block Strabag shareholders' foreign lawsuits

A court in Kaliningrad, Russia, is set to consider a case that could prevent Austrian Strabag shareholders from challenging Russian court rulings abroad. The lawsuits, initiated by Rasperia Trading Limited, a Russian Strabag shareholder, have already resulted in over 2 billion euros in damages being awarded to Rasperia since 2024.

The core of the dispute lies in the aftermath of EU sanctions imposed in April 2022 on Russian billionaire Oleg Deripaska. These sanctions blocked the rights of Rasperia, a company previously controlled by Deripaska. This led to a fierce conflict between Strabag's Austrian and Russian shareholders.

Rasperia has found more success in Russian courts than its Austrian counterparts. The company has filed four lawsuits since 2024, securing significant compensation. A hearing on Wednesday will focus on a June 2025 claim by Rasperia, seeking to prohibit Strabag shareholders and Raiffeisen Bank International (RBI) from pursuing legal action outside Russia against Rasperia.

Should the Kaliningrad court rule in Rasperia's favor, any violation of this order by the defendants could lead to a penalty of over 1 billion euros in Russia. Previously, Austrian Strabag shareholders withdrew a case filed in Amsterdam in September 2025. RBI has also refrained from initiating legal steps in Austria to access Rasperia's assets there, despite suffering losses due to Rasperia's claims against its Russian subsidiary. The Russian subsidiary of RBI has already paid nearly 2 billion euros in 2025 and an additional 300 million euros in 2026.