International Arbitration and a Crisis of Trust

Gradually, courts in pro-Western states are closing their doors to Russian businesses, while foreign companies are often reluctant to resolve their disputes in Russia. These conditions create an environment in which arbitration can thrive. However, major arbitration institutions are often associated with unfriendly countries, causing them to lose credibility in the public eye. As a result, previous arbitration decisions are becoming increasingly irrelevant. Russian businesses must reinvent international arbitration for themselves. Which path did Iran follow, when faced similar challenges? What place will the investment arbitration occupy in the new system? What practical guidelines for drafting "anti-sanctions" clauses should be created?