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Vladimir Putin signed Federal Law On Amendments to the Arbitration Procedure Code of the Russian Federation in Order to Protect the Rights of Individuals and Legal Entities in Connection with Restrictive Measures Introduced by a Foreign State, a State Association and/or Alliance and/or State (Interstate) Institution of a Foreign State or State Association and/or Alliance.
The Federal Law establishes the exclusive competence of arbitration (commercial) courts in the Russian Federation to resolve disputes involving individuals that are subject to restrictive measures, unless otherwise established by an international treaty signed by the Russian Federation or by agreement between the parties, whereby the consideration of such disputes is assigned to the competence of foreign courts or international commercial arbitration based outside the territory of the Russian Federation.
At the same time, individuals whose cases are considered by a foreign court or international commercial arbitration based outside the territory of the Russian Federation, or individuals providing proof that such proceedings will be initiated, are entitled to apply for a veto on initiating or continuing such proceedings in a foreign court or international commercial arbitration.
The Federal Law also provides that, at the request of the applicant, the arbitration (commercial) court has the right to award them compensation to be charged from the individual whom the court banned to initiate or continue proceedings in a foreign court or international commercial arbitration based outside the territory of the Russian Federation, if that individual fails to respect the court order.
June 8, 2020