Actually it did not. It won a case in Russia which in effect says that if a Russian registered company willingly enters in to an agreement (otherwise known as a contract) whereby disputes are settled via arbitration, in this case in Stockholm, that has no impact in Russia. OilVoice.com | Moscow Refinery Wins Court Case.
Thus the cost of doing international business in Russia has just increased as it means that foreign arbitration has not weight under Russian law. It's not as though its a shock - this has been going on for a while. If Russian judges were better trained then the issue would be less important - but they aren't.
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20 March 2006
Moscow Refinery Wins Court Case
Actually it did not. It won a case in Russia which in effect says that if a Russian registered company willingly enters in to an agreement (otherwise known as a contract) whereby disputes are settled via arbitration, in this case in Stockholm, that has no impact in Russia. OilVoice.com | Moscow Refinery Wins Court Case.
Thus the cost of doing international business in Russia has just increased as it means that foreign arbitration has not weight under Russian law. It's not as though its a shock - this has been going on for a while. If Russian judges were better trained then the issue would be less important - but they aren't.
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