The arbitral tribunal had proved him right, ordered Russia to pay more than a billion dollars (850 million euros).
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Moscow had then challenged this sentence before the Paris Court of Appeal which canceled it in March 2021, saying that the treaty did not apply.
Seized by the Ukrainian bank, the Court of Cassation broke the appeal judgment in December 2022, thus restoring the arbitral sentence.
In the midst of war between Russia and Ukraine, a new training of the Paris Court of Appeal “rejected the new appeal in cancellation presented by Russia, taking note of the judgment rendered by the Court of Cassation and confirming the arbitral sentence condemning Russia,” Lina Reyes, a jurist of the Mard (alternative modes of disputes) told AFP ( (CMAP).
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The Court of Appeal also “dismissed the grievances developed by the Russian Federation concerning the violation of the international public order, the non-compliance by the arbitral tribunal of its mission and the existence of a reasonable doubt as to the independence and the impartiality of one of the arbitrators”, according to a press release from the Court.
The decision of the arbitral tribunal being still valid, Russia remains sentenced to pay the sum of more than a billion dollars to the bank for violation of the bilateral investment treaty.
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