Part II Investor-State Arbitration in the Energy Sector, 12 Energy Investor-State Disputes in Russia and the Commonwealth of Independent States

Subject(s):

Arbitration — Annulment

This chapter looks at the most prominent cases under the Energy Charter Treat (ECT) involving the Russian Federation, and their fate in annulment actions before the Dutch courts. Recently, the ECT became the most discussed international instrument in Russia due to the large-scale arbitrations initiated by the former Yukos shareholders against the Russian Federation. The chapter also discusses the use of some lesser known multilateral investment treaties and analyzes their possible bases for arbitrating energy investment disputes involving the Russian Federation or other states from the Commonwealth of Independent States (CIS). It further describes recurrent issues and cases rendered on the basis of BITs signed by the Russian Federation, or specific legislation on the protection of investments existing in the Russian Federation and other CIS states. Finally, the chapter deals with the question as to what extent Russian state-entities may enter into individual investment agreements containing an arbitration clause.