Due to the escalating conflict between the US, Israel, and Iran, the Strait of Hormuz has been closed and air travel has been suspended, some civilian vessels have been attacked, and banks have experienced disruptions to digital services. This poses a risk to businesses, including breaches of contractual obligations and supply chain disruptions. However, military […]
In February, the Advocate General of the Court of Justice of the EU prepared an opinion interpreting Article 11 of Regulation (EU) No. 833/2014. It prohibited the return of advances to Russian parties and established that enforcement of a judgment in favor of a sanctioned entity would be considered a violation of public policy. However,
Vietnamese state corporation PetroVietnam believes the suspension of its application to review the $570 million recovery order against Silmash is justified. The pause is necessary pending clarification from the Singapore court, which overturned part of the verdict. Andrei Gusev, Senior Partner at Nordic Star, assessed the situation in an article for RBC. Read more at
By 2026, international business has decisively entered a phase of fragmented markets and legal regimes. Universal jurisdictions that are equally suitable for all tasks no longer exist. For entrepreneurs from Russia, Kazakhstan, and Uzbekistan, the key issue is no longer expansion for its own sake, but “manageability”- the ability to maintain operational flexibility, diversify risks,
An international arbitration court has upheld Kazakhstan’s claims that the operator of the Karachaganak oil and gas field inflated costs, resulting in budget shortfalls. The field is being developed by a consortium of five companies from various countries, including LUKOIL. The arbitrators ruled that the project participants must compensate the Kazakh authorities between $2 billion
Over the past ten years, Russian investors have received at least $170 million in compensation under bilateral investment treaties with other countries. How they protect investors and what you need to know about them is covered in an article by Anna Zabrotskaya, Managing Partner at Nordic Star in Russia, for RBC. For more information, follow
How Russian investors can protect themselves in other countries / Comment / RBC Read More »
The Constitutional Court (CC) will consider a complaint against marketplaces failing to hold accountable for the sale of counterfeit products on their platforms, Vedomosti has learned. Hobby World, the publisher and seller of board games (OOO Hobby World), has filed a complaint with the CC, requesting that paragraphs 1 and 3 of Article 1253.1 of
The Federal Tax Service has adjusted the launch date for the automatic residency determination system for individuals. How and when the new system might launch and what it means for taxpayers is covered in an article by Andrei Gusev, Senior Partner at Nordic Star, for RBC. For more information, follow the link (available with an
Who and how is buying the business of an American special equipment manufacturer? A structure of the Balchug Capital fund has reached the final stage of purchasing the remaining Russian assets of the American corporation Caterpillar. The government commission approved the deal for the remaining subsidiaries of the special equipment manufacturer for 2.6 billion rubles.
The number of cases involving the recognition of foreign state court and international commercial arbitration awards in Russia halved between 2021 and 2024, and the decline has continued this year. Moreover, foreign state court awards are now recognized and enforced more readily than arbitrators’ verdicts—80% versus 50%. However, these statistics primarily reflect decisions made in
