Samsung Heavy Industries shipyard to file lawsuit against Russian shipyard

The Korean shipbuilder said that it would demand compensation for damages from the Russian shipbuilding plant Zvezda through international arbitration.

This is reported by Reuters.

Recall that in 2020-2021, Samsung Heavy Industries signed contracts with the Russian shipbuilding plant for the supply of equipment for Russian tankers.

After the start of Russia’s full-scale invasion of Ukraine, the South Korean shipyard canceled the order and announced the termination of cooperation with Zvezda.

Already in 2024, the Russian shipbuilder unilaterally reported that Samsung Heavy Industries had not fulfilled its obligations and decided to terminate the agreement, insisted on the return of advance payments and withheld $ 800 million in advance payments.

Now the South Korean shipyard is going to file a lawsuit for the “illegal” termination of contracts for the supply of shipbuilding equipment worth $ 3.5 billion. The Korean shipbuilder does not plan to return the contract, but will demand compensation for damages through international arbitration.

Earlier, USM reported that the Samsung Heavy Industries shipyard is terminating cooperation with the Russian Federation.