Arbitrations Against Ukraine: Overview Of 2012

In the past decade Ukraine has been one of the busiest respondents in the CIS region. However, the arbitration statistics of 2012 shows a change in this trend.

On 30 January 2013 the Minister of Ecology and Natural Resources of Ukraine confirmed that the settlement agreement between Vanco Prykerchenska Ltd and Ukraine had been approved by the Stockholm Chamber of Commerce arbitral tribunal (the "SCC") in late December 2012.

About a month earlier the Ministry of Justice of Ukraine reported that on 4 December 2012 the Permanent Court of Arbitration in The Hague had fully dismissed Naftrac Limited's USD 185 million claims against Ukraine. The dispute concerned the fulfillment by Ukraine of its obligations under the UN Framework Convention on Climate Change of 1992 and the Kyoto Protocol of 1997.