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21 June 2019

MZS legal team, led by the partner Kirill Udovichenko, represents the State Development Corporation VEB.RF in the investment treaty arbitration against Ukraine.

The dispute concerns Ukraine violating the rights of Ukrainian banks controlled by Russian state financial institutions, including PSC Prominvestbank owned by VEB.RF, as per the Agreement between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on the Encouragement and Mutual Protection of Investments dated 27 November 1998.

On 20 June 2019 VEB.RF submitted a Request for Arbitration to the Arbitration Institute of the Stockholm Chamber of Commerce. VEB.RF seeks compensation from Ukraine that runs into millions of US dollars.

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