Tag Archives: Russia

Russian Arbitration Reform: Key Changes

On 1 September 2016, the following federal laws came into force in Russia: the Federal Law On Arbitration (Arbitration Proceedings) in the Russian Federation and the Federal Law on Amendments to Certain Legislative Acts which introduced a number of changes, … Continue reading

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Filed under Arbitration laws, Arbitration proceedings, Russia

Round 2 to Russia: the battle continues as the largest arbitration awards in history are set aside by the Hague District Court

In a long-awaited decision published yesterday, the Hague District Court ("Court") has set aside the US$ 50 billion awards in favour of the former majority shareholders of Yukos on the basis that the Tribunals lacked jurisdiction to hear the disputes.  … Continue reading

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Filed under Awards

Upcoming Webinar: Sanctions Update: Ukraine and Russia

Monday 22 September 2014, 2.00pm – 3.00pm BST The international sanctions landscape has continued to develop in response to the situation in Ukraine. On 12 September, the EU and US both published details of expansions to their existing sanctions against … Continue reading

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Filed under Public International Law, Sanctions

The largest Arbitration Awards in history: Three Majority shareholders in Yukos awarded total damages of over $50bn from the Russian Federation

On 18 July 2014, the Claimants in three related arbitrations administered under the 1994 Energy Charter Treaty and the 1976 UNCITRAL Arbitration Rules prevailed against the Russian Federation.  The Claimants[1] were former shareholders of the OAO Yukos Oil Company (“Yukos”), … Continue reading

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Filed under Costs, Damages, Europe, Investment Arbitration

Sanctions Update: EU extends sanctions against Russia

Herbert Smith Freehills has published the latest edition of its Sanctions Update e-bulletin. This edition covers the new sanctions regime agreed by the EU against Russia, including: the introduction of “phase 3” sanctions affecting key sectors of the Russian economy such … Continue reading

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Filed under Europe, Sanctions

Sanctions Update: EU and US introduce further sanctions in response to the situation in Ukraine; EU amends sanctions against Libya, Central African Republic and Syria

Herbert Smith Freehills has published its latest Sanctions Update e-bulletin, on the latest developments in sanctions regimes in Ukraine, Libya, Central African Republic and Syria. Both the EU and US have introduced limited additional sanctions in light of the current situation … Continue reading

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Filed under Africa, Australia, EU Law, Europe, Middle East, Sanctions, The Americas

Ukraine – EU imposes asset freeze and travel ban on 21 Russian individuals; US introduces additional Executive Order and imposes asset freeze and visa ban on 11 Ukrainian and Russian individuals

Herbert Smith Freehills has published its latest Sanctions Update e-bulletin, on the imposition targeted sanctions by the EU and US in response to the recent Crimea referendum. On 17 March 2014, the EU introduced an asset freeze and travel ban … Continue reading

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Filed under Europe, Sanctions, The Americas

Ukraine – EU imposes asset freeze on members of former government and issues a statement in relation to Russia; US introduces Executive Order permitting the blocking of assets

Herbert Smith Freehills has issued its latest Sanctions Update e-bulletin, concerning the EU and US response to recent events in Ukraine. On 5 March 2014, the EU introduced an asset freeze applying to former President Yanukovych and other former government officials and … Continue reading

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Filed under Europe, Sanctions, The Americas

Russia tables proposals for reforms to its arbitration system

Reforms to the Russian system and procedure for arbitration have been tabled by the Ministry of Justice of the Russian Federation (MoJRF), in the form of a package of three draft Bills that are to be the subject of a … Continue reading

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Filed under Arbitrability, Challenges to awards, Enforcement, Europe, Institutions

Supreme Arbitrazh Court in Russia publishes reasoning in Sony Ericsson case invalidating unilateral options in dispute resolution clauses

Russia’s highest court has issued a decree which potentially invalidates a jurisdiction clause which is widely used by investors and lenders in Russia. Who is affected? Anyone who contracts with a Russian counterparty or with a non-Russian party which has … Continue reading

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Filed under Arbitration laws, Enforcement, Europe, Investment Arbitration