Arbitrating against Russia - what's next?

The $270 million award obtained by JSC DTEK Krymenergo against the Russian Federation is a powerful reminder of the constraints imposed on Russia by its network of bilateral investment treaties. The award was handed down on 1 November 2023 by a tribunal operating under the 1976 UNCITRAL Rules, chaired by Juan Fernando Armesto. It was brought into the public domain by DTEK Krymenergo’s initiation of enforcement proceedings in the United States barely a week later.