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ARTICLE · 01 AUGUST 2024

Investment Protection And Arbitration | Part 4

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In a wave of recent decisions, including in proceedings involving a number of Western banks, the Russian courts have disapplied the contractual dispute resolution clauses and taken...

RussiaInternational Law
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Raid Abu-Manneh
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Jawad Ahmad
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José Caicedo
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John M. Conlon
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Lisa Dubot
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Ted Howes
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Dany Khayat
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PART 4: JURISDICTIONAL BATTLEGROUND IN DISPUTES WITH SANCTIONED RUSSIAN PERSONS

In a wave of recent decisions, including in proceedings involving a number of Western banks, the Russian courts have disapplied the contractual dispute resolution clauses and taken jurisdiction over international disputes. The Russian courts have proceeded to issue a variety of orders against the non-Russian parties, including orders prohibiting them from pursuing claims outside Russia, fines for so doing and the immediate attachments of the non-Russian parties' assets. The Russian courts have taken this action relying on amendments to the Arbitrazh Procedural Code of the Russian Federation ("APC") introduced through Articles 248.1 and 248.2 of the APC (the "APC Amendments") in 2020.

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