Tag: Article 248.1(4) APC RF

Arbitration EU Sanctions 20. February 202620. February 2026

Russian Court Disregards ICC Arbitration Clause under Art. 248.1 APC RF and Orders U.S. Company to Refund Advance Payment to Russian Helicopters Subsidiary

On 27 January 2026, the Arbitrazh Court of the Republic of Buryatia ordered U.S.-based VTS Aviation LLC to refund USD 81,200 paid as an advance under a 2020 supply contract to JSC Ulan-Ude Aviation Plant, a subsidiary of the sanctioned Russian Helicopters holding – despite the contract containing an ICC arbitration clause providing for dispute […]