EU sanctions drive Russian businesses to Asian arbitration markets

Author: | Published: 27 Apr 2018

EU sanctions have contributed to driving Russian businesses towards Asian arbitration markets

1 minute read
Most significant 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 (SCC).

Recently, however, Russian businesses have...