MOSCOW, October 1. /TASS/. Wintershall Dea has initiated two arbitration proceedings against Russia in respect of its rights to Russian assets, the German oil and gas company said.

"Within the scope of the pursuing claims related to the expropriation of the Russian assets, Wintershall Dea initiated two arbitration proceedings against the Russian Federation to protect its legal position and its shareholders’ interests. The reason for these proceedings is the Russian Federation’s violations of its obligations under its bilateral investment protection treaty with the Federal Republic of Germany and under the Energy Charter Treaty," the company said.

In early September 2024, the deal was closed on the sale of oil and gas business of Wintershall Dea (in Norway, Argentina, Germany, Mexico, Algeria, Libya (excluding Wintershall AG), Egypt and Denmark), except entities related to Russia, to Harbour Energy. The entire oil and gas business without Russian participation will be transferred to newly created Wintershall Dea Global Holding GmbH.

Remaining assets of Wintershall Dea comprise joint ventures with Russian participation: shares in joint ventures in Russia and its stakes in Wintershall AG in Libya (51%), in Wintershall Noordzee BV in the Netherlands (50%), and in Nord Stream AG (15.5%).

On January 17, 2023, the company announced its intention to leave Russia. Wintershall Dea was one of financial investors in Nord Stream 2 gas pipeline before.