International arbitration awards could be set for challenges in the Russian courts after the head of the country’s Supreme Commercial Court called for powers to overturn foreign rulings if they are not in the national interest.
At a conference in St. Petersburg last month, Anton Ivanov said Russian judges should have the power to set aside arbitral awards made in overseas jurisdictions if they are felt to unfairly prejudice Russian parties. He also proposed customs penalties for states thought to have negatively impacted Russian investments overseas, and also criticized the seizure of Russian assets by foreign courts.
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