Russia

Investment, Investment Arbitration, Investment Disputes, Investment protection, Russia, Ukraine

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Following the Russian military invasion of Ukraine, dozens of states imposed sanctions against Russia. In response, Russia imposed or threatened to impose severe countermeasures on foreign investments associated with such “unfriendly states”. In this regard, several news outlets reported that Russia is in the process of implementing legislation that will interfere with foreign investments in…

Crimea, Russia, Sanctions, Ukraine

(Wöss & Partners SC) and (HHP Chambers)/ /Leave a comment

On May 2, 2021, the ICC Austria organized a seminar on investment protection in Russia in light of its limited-scope investment agreements and the ongoing military crisis. The key speakers were Dr. Herfried Wöss, a partner of Woess & Partners LLC and founder of the Investment Arbitration Forum, and Prof. Dr. Nikos Lavranos, Of Counsel at…

Russia, Sanctions

(Nyenrode University) and (AZHA Avocats)/ /Leave a comment

The commencement of the war in Ukraine triggered the imposition of unprecedented sanctions affecting almost all sectors of the Russian economy. Many foreign companies operating in Russia ceased or temporarily put on hold their business activities. In response, the Russian government adopted several retaliatory measures. This post offers an overview of these measures and their…

Gas Supply Agreements, Russia, Sanctions

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The Russian aggression in Ukraine has not only brought immense human tragedy, but also unprecedented uncertainty upon the European energy markets. Gas supply has emerged as a particularly weak spot of the entire European economy, being massively overdependent on Russian supplies. When Russian President Vladimir Putin issued the infamous Presidential Decree No. 172 of 31…

Enforcement, Paris Arbitration Week, Russia, SCC Rules, VIAC

(Addleshaw Goddard LLP)/ /1 Comment

As part of the 2022 Paris Arbitration Week, Jeantet organised a conference on “The impact of Russian sanctions on international commercial arbitration: from arbitrability to enforcement”. The panel was composed of Crina Baltag (Associate Professor, Stockholm University; and Editor of the Kluwer Arbitration Blog), David Lasfargue (Partner, Jeantet), Niamh Leinwather (Secretary General, VIAC), Evgenyia Rubinina…

Force majeure, International Public Policy, Russia, Sanctions

(Queen Mary University)/ /1 Comment

When and how arbitral tribunals should give effect to international sanctions is a long-standing question in international arbitration. Unilateral economic sanctions have been traditionally characterised as factual impediments that could trigger force majeure or frustration of purpose defences. However, a growing number of scholars and practitioners have criticised this factual approach and have advocated for…

Russia, Termination, Treaty, Vienna Convention on the Law of Treaties

, (Avellum)/ /1 Comment

Russian full-scale invasion of Ukraine consolidated the international community in strong political condemnation and accompanying legal sanctions against vital sectors of the Russian economy. International business followed suit with more and more multinational companies ceasing their investments in Russia or pulling out their businesses entirely. As reported by the Wall Street Journal, the Russian response…

asset freeze, Russia, Sanctions, Ukraine

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In late 2021, the Kluwer Arbitration Blog published a series of posts regarding issues faced by arbitral and financial institutions as a result of restrictions on transfers of funds under both primary and secondary sanctions programmes, and in particular on the potential effects of asset freezes, as well as on restrictions that form part of…

Peace, Russia, sociology of international arbitration, Ukraine, UN

(Stockholm University) and (Law Offices of Kiran N Gore PLLC; The George Washington University Law School)/ /1 Comment

All Members shall settle their international disputes by peaceful means in such a manner that international peace and security, and justice, are not endangered. (UN Charter, Art. 2.3) The peaceful settlement of international disputes is a fundamental principle of international law. While it can be debated precisely when or where this common principle emerged, it…

Peace, Russia, Ukraine, UN

(Notre Dame Law School)/ /Leave a comment

One often maps the path of history as the sordid account of one bloody war after another.  But if one were to mark history by the great moments of peace, then the modern era began at 2:00 p.m. on May 18, 1899.  From across the globe, representatives of the world’s most powerful nations gathered for…

Anti-suit injunction, Arbitration Agreement, Russia, Sanctions

(Enyo Law LLP)/ /Leave a comment

As previously reported, in mid-2020, changes were enacted to the Russian Arbitrazh (Commercial) Procedure Code (“APC”) to establish the exclusive jurisdiction of Russian Arbitrazh courts over cases where a Russian party is subject to sanctions or where the dispute has arisen out of sanctions. This triggered concerns that sanctioned Russian parties would be able to…

Russia, Sanctions, United States

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This entry is the last in a series of three regarding issues faced by arbitral and financial institutions as a result of restrictions on transfers of funds under primary and secondary sanctions programmes. In the first post, the authors addressed the impact of asset freezes on arbitral institutions and their banks, while the second post…

CAS arbitration, doping, Russia, Sport arbitration

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Hidden behind the glamour and grandeur of major sporting events such as the Olympics is the way the sport comes to terms with various aspects of the law. The Court of Arbitration for Sport (CAS), or the Tribunal Arbitral Du Sport (TAS), based in Lausanne, is at the apex of a now complex pyramid of…

Anti-arbitration Injunction, Russia, Sanctions

(Enyo Law LLP)/ /Leave a comment

In mid-2020, changes were enacted to the Russian Arbitrazh (Commercial) Procedure Code (“APC”) which established the exclusive jurisdiction of Russian Arbitrazh courts over cases where a Russian party is subject to sanctions or where the dispute has arisen out of sanctions. This raised concerns that sanctioned Russian parties would be able to easily avoid arbitration…

Arbitration Institutions and Rules, Conflicts of interest, Russia

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Conflicts of interest between parties and arbitrators are common in arbitration proceedings. However, the academic community has not yet examined whether arbitral institutions may also run into conflicts of interest. This post will deal with this question and also examine measures that can mitigate any such risks of conflicts of interest for arbitral institutions. The…

Arbitration Institutions and Rules, Permanent Arbitral Institution, Russia

, (Herbert Smith Freehills LLP)/ /Leave a comment
Herbert Smith Freehills

The Russian 2016 Arbitration Reform (the “Reform”) was a game-changer for both arbitration practitioners and the arbitral institutions. One of the major implications of the Reform was that so-called “corporate” disputes (which definition covers a large number of post-M&A disputes, including those arising out of share purchase agreements and shareholders’ agreements) could now only be…

France, Netherlands, Paris Court of Appeal, Recognition and enforcement of arbitral award, Russia, State entity, Uncategorized, United States, United States Courts, Yukos

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The dispute between the former owners of the Yukos oil company and the Russian Federation concerning damages of more than US$50 billion is the largest in the history of arbitration. With thousands of pages written on the topic, the dispute has been summarized in earlier posts (see, amongst others, here and here). Following three arbitrations…

Access to Justice, Jurisdiction, Russia, Sanctions

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On 19 June 2020, the new sanctions-related amendments1)Federal Law No. 171-FZ dated 8 June 2020, introducing the amendments (text in Russian). to the Russian Commercial (Arbitrazh) Procedure Code entered into force. The main objective of the law is to protect the interests of Russian natural and legal persons who are unable to effectively resolve their…

Access to Justice, Jurisdiction, Russia, Sanctions

(Kulkov, Kolotilov and Partners)/ /Leave a comment

As a result of coronavirus, sanctions, for once, have not been grabbing the headlines. Unlike the media, the Russian legislative bodies have recently shown keen interest in the topic of sanctions as they have adopted a draft law from last year granting persons and companies affected by the sanctions against Russia with a right to…

Enforceability, Public Policy, Russia, Sanctions, Ukraine

(Kulkov, Kolotilov and Partners)/ /Leave a comment
Young ICCA

We live in time when sanctions hit the headlines almost every quarter. Naturally, this frustrates contracts and creates additional causes for disputes. However, there exists uncertainty as to whether sanctions also render awards unenforceable on the grounds of public policy. As will be shown in this post, even within the supreme court of one country…

Arbitration Agreement, Energy Charter Treaty, Russia, Treaty Interpretation, UNCITRAL, Vienna Convention on the Law of Treaties, Yukos

(Albright StoneBridge Group)/ /2 Comments

Introduction On the 18th of February, the Court of Appeal in The Hague reversed the lower court’s decision annulling the awards rendered against the Russian Federation in Veteran Petroleum Ltd., Yukos Universal Ltd. and Hulley Enterprises Ltd. cases. The awards are thus revived. Notwithstanding the global notoriety and public controversy, the identity of the protagonists,…

Arbitration clause, Russia, Unilateral Clauses

(Baker & McKenzie LLP)/ /Leave a comment

Overview At the end of 2018, the Presidium of the Russian Supreme Court published its “Review of Cases Related to the Functions of Assistance and Control in Relation to Arbitration and International Commercial Arbitration” (“Review”). The 51-page Review was dedicated to issues that the Russian courts have faced while hearing cases arising from domestic and…

Jurisdiction, Russia, Unilateral Clauses

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Herbert Smith Freehills

Introduction Unilateral option clauses (also known as “asymmetric” or “one-sided” clauses) are clauses which give both parties the right to refer disputes to a particular dispute resolution forum, but which simultaneously give one party an exclusive right to elect to refer a particular dispute to another forum. The classic example of a one-sided clause is…

BIT, Recognition and enforcement of arbitral award, Russia, Sovereign Immunity

(Luther Rechtsanwaltsgesellschaft mbH)/ /Leave a comment

Several authors have already discussed the enforcement of arbitral awards in Russia (see for example the recent posts on the issue estoppel and public policy in recognition and enforcement proceedings, on the confusion relating to the material scope of the Convention on the Recognition and Enforcement of Foreign Arbitral Awards, and on the enforceability of…