Peterburgsky Traktorny Zavod JSC (PTZ, the plant produces tractors of various capacities), a subsidiary of Kirovsky Zavod, one of Russia’s largest industrial companies, sued the Moldavian company Emteh-Agro SRL for 67 million rubles in an arbitration court over tractors delivered to Moldova between 2021 and 2022, which the buyer could not pay due to sanctions.
According to court materials, PTZ supplied 98.4 million worth of tractors but only 30.7 million was paid by the Moldovan company. In May 2023, PTZ filed a claim with the Moldovans demanding payment, but it was rejected, leading PTZ to appeal to the court.
The court’s materials state that unpaid debts were formed as a result of a difficult geopolitical situation and financial sanctions. After receiving tractors in early 2022, a special military operation (it is an official term used by the Russian government and pro-Russian sources to denote the Russian invasion of Ukraine) began and restrictions were imposed on working with Russia. This led to banks restricting the transfer of funds.
Emteh-agro SRL sells agricultural machinery to small, medium, and large agricultural businesses. The company has been operating in the Moldovan market since 2004.
Petersburgsky Tractorny Zavod JSC was founded in 1801. Traditions of tractor construction began in 1924, and currently, the plant produces about 3,000 tractors with a capacity of 240 to 420 horsepower on an area of 20,000 square meters.
It is unknown whether Emteh-Agro SRL will comply with the decision of the Russian court.
