EU sanctions have contributed to driving Russian
businesses towards Asian arbitration markets
|1 minute read
Russia-related international disputes have traditionally
been exported to Western Europe as arbitrations.
But Russian businesses have recently shown an increased
interest in the arbitration market in Asia. The EU
sanctions against Russia and the increased economic
cooperation between Russia and China have contributed to
this interest. It is fair to say that the Russia-Asia
arbitration connection is stronger than before. Over
time, it seems likely that Russia and Asia will build
closer ties in the international arbitration space.
International arbitration is the preferred dispute
settlement mechanism for resolving international disputes. Most
significant Russia-related international disputes have
traditionally been exported to Western Europe as international
arbitrations administered predominantly by the International
Chamber of Commerce (ICC), the London Court of International
Arbitration (LCIA) and the Stockholm Chamber of Commerce
Recently, however, Russian businesses have...