ISDS Case Map
Russia
A group of major shareholders in dismantled Russian oil giant Yukos announced they were giving up their efforts to seize lucrative state assets as compensation in France following a series of legal setbacks.
Inter RAO structures claim $175 million loss was due to a refusal to raise energy tariffs when the Georgian national currency Lari was devaluated.
A decision is expected for September.
The Permanent Court of Arbitration in the Hague has said it has jurisdiction to hear the case of a Ukrainian company seeking to recover damages for property lost when Russia annexed Crimea.
Yukos, once Russia’s largest oil major, was accused of tax crimes and declared a bankrupt by a Russian court ruling in 2006 while its assets were sold at auctions during the liquidation procedure.
Russia has offered its support for Pakistan’s entry into a free trade agreement with Eurasian Economic Union, of which Russia is a leading member.
Taking into account the past Belarus practice of investor – state dispute settlement, the parties are more likely to settle Manolium Processing claim as a part of the pre-arbitration negotiations than by ICSID arbitration.
Yukos will hardly appeal against the Belgian court’s ruling, the lawyer of the Russian Federation Niuscha Bassiri said.
Marko Cadez, President of the Serbian Chamber of Commerce and Industry said that Belgrade has been making progress on negotiating a free trade agreement with the Russia-led Eurasian Economic Union.
The Moscow-led Eurasian Economic Union aims to finalize a free trade deal with Iran by the end of the year (2017), in a drive by Russia and its fellow members to deepen ties with Tehran.
