This article is the second of a three part series. The first article addressed the perspective of Russia as a seat of arbitration. The article provided an analysis of the Russian International Arbitration Act with a special focus on the enforcement of interim measures, the lex arbitri, arbitrability and set aside proceedings. Additionally, it described the legal framework for arbitration in Russia, as well as the substantive law applicable to the case.
The present article deals with the current arbitration legislative scene in Russia. The government has recently proposed a draft Bill which goal is to improve the institution of international arbitration in Russia. The Bill is presently being debated in the Russian Parliament. Five significant changes have been proposed. In principle, the changes are based on the UNCITRAL Model Law 1985 amended in 2006 (UNCITRAL). Notwithstanding, some of them go beyond amendments introduced by UNCITRAL.
Significantly, however, the issue of interim measures remains unresolved: interim measures granted by an arbitration Tribunal seated in Russia or abroad cannot be enforced.
Iurgium [previously Spain Arbitration Review]