Asian Legal Business: Arbitration: From Russia, With Work

Sanctions placed on Russia as a result of its invasion of Ukraine have influenced how Russian businesses and counterparties look at arbitration agreements. “There are two aspects: concerns of Russian businesses, and concerns of those doing business with Russian companies. Given the sanctions in place, doing business with Russian companies is restricted. Russian businesses will find it difficult to transfer funds to arbitral institutions to pay fees and to pay international counsel to represent them. Those doing business with Russian entities may encounter difficulty enforcing awards in their favour: it may be difficult for Russians to transmit funds internationally to satisfy awards,” said O’Melveny partner Denis Brock, who chairs the firm’s International Disputes and Arbitration Practice.

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