In August, Russians and domestic companies were added to the sanctions lists of several countries, and the United States applied a new mechanism of secondary sanctions for the first time. At the same time, opportunities for exchanging frozen assets are emerging. The first licenses for the withdrawal of assets began to be issued in Cyprus, and in Russia, the Central Bank allowed foreigners to use money in type “C” accounts. But lawyers expect that for now the use of this mechanism will be targeted, not widespread. In the field of international arbitration, the practice of Lugovoy’s law continues to develop: now a ban is issued not only for initiating new disputes, but also for the execution of decisions abroad.
In the material for Pravo.ru, Alexandra Kuznetsova, an Associate in the Dispute Resolution practice at Nordic Star, commented on the practice of recognizing and enforcing AIFC decisions in Russia.
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