Russian court bans Austria's OMV from non-Russia arbitration against Gazprom, TASS reports

MOSCOW (Reuters) - A Russian court ruled on Wednesday to ban Austrian oil and gas group OMV from pursuing arbitration proceedings against Kremlin-controlled Gazprom outside Russia, the TASS news agency reported, citing the court.

The news agency also said that the Court of Arbitration of St Petersburg and the Leningrad Region threatened to fine OMV 575.2 million euros ($624.26 million) in case the Austrian company goes ahead with the arbitration in courts outside Russia.

Gazprom and some other Russian companies are trying to move court cases to Russia from international arbitration. Many of the disputes stem from the breakdown of business relations between Russia and the West over the conflict in Ukraine.

OMV's Chief Executive Officer Alfred Stern said last month that the company views these proceedings as illegitimate and does not recognise St. Petersburg as the place of jurisdiction.

He also said that OMV had initiated arbitration proceedings against Gazprom, concerning among other matters over its stake in a Russian gas field.

($1 = 0.9214 euros)

(Reporting by Vladimir Soldatkin, Editing by Louise Heavens)