Enforcement of investment treaty arbitral awards in Ukraine has
taken a new turn. On 25 January 2019, the Supreme Court granted
enforcement of an investment treaty arbitral award against the
Russian Federation (the Everest Award) rendered on the basis of the
Agreement between the Government of the Russian Federation and the
Cabinet of Ministers of Ukraine On Encouragement and Mutual
Protection of Investment of 28 November 1998 (the Em in the
Everest Estate LLC et al. v. The Russian Federation case.
In this case, the Supreme Court stripped the Russian Federation
ofits state immunity on the basis that the Russian Federation
entered into the BIT, which constitutes a waiver of immunity in
accordance with the case law of the European Court of Human Rights
(ECHR) and customary international law.
