Matter

JSC Oschadbank v Russian Federation (PCA Case No. 2016-14)

PCA treaty arbitration over Russia's alleged expropriation of Oschadbank's Crimean investments, with a USD1.11bn award and subsequent French proceedings.

Aliases: Oschadbank v. Russian Federation (I) · Oschadbank v. Russia (I)

Case no.: PCA Case No. 2016-14
Seat: France
Applicable rules: UNCITRAL Arbitration Rules
Substantive governing law: Agreement between the Russian Federation and Ukraine on the Encouragement and Reciprocal Protection of Investments, 27 November 1998
Commencement year: 2016

19 August 2016France
19 August 2016France
Procedural Order No. 1 of the PCA Tribunal in Case No. 2016-14 dated 19 August 2016
Permanent Court of Arbitration
Award no.
PCA Case No. 2016-14
Decision summary
Fixed Paris, France as the place of arbitration and established the procedural timetable.
Supporting details
3 authorities · 3 participants
Permanent Court of Arbitration
Arbitrator
David A. R. Williams
Arbitrator
Charles N. Brower
Arbitrator
Hugo Perezcano Diaz
Authorities cited
3
- Agreement between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on the Encouragement and Mutual Protection of Investments (27 November 1998)
  Treaty
- UNCITRAL Arbitration Rules (1976)
  Rules
- IBA Rules on the Taking of Evidence in International Arbitration (2010)
  Rules
PCA Procedural Order No. 1
2 years, 3 months and 7 days later · 829 days
26 November 2018France
26 November 2018France
Final Award of the UNCITRAL Tribunal in PCA Case No. 2016-14 dated 26 November 2018
Permanent Court of Arbitration
Award no.
PCA Case No. 2016-14
Decision summary
The tribunal declared jurisdiction and found an unlawful expropriation of Oschadbank's Crimean investments; it awarded USD 1,111,300,729 plus arbitration costs, legal expenses, and interest.
Supporting details
7 authorities · 3 participants
Permanent Court of Arbitration
Arbitrator
David A. R. Williams
Arbitrator
Charles N. Brower
Arbitrator
Hugo Perezcano Diaz
Authorities cited
7
- Agreement between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on the Encouragement and Mutual Protection of Investments (27 November 1998, arts. 1–5, 7, 9, 12 and 15)
  Treaty
- UNCITRAL Arbitration Rules (1976)
  Rules
- Vienna Convention on the Law of Treaties (1969, arts. 29, 31 and 32)
  Treaty
- Articles on Responsibility of States for Internationally Wrongful Acts (2001, arts. 4, 5, 8 and 15)
  International law
- Saluka Investments BV v. Czech Republic (PCA Case No. 2001-04, Partial Award, 17 March 2006)
  Case law
- Técnicas Medioambientales Tecmed S.A. v. Mexico (ICSID Case No. ARB(AF)/00/2, Award, 29 May 2003)
  Case law
- SPP (Middle East) Ltd. v. Arab Republic of Egypt (ICC Case No. 3493, Award, 11 March 1983)
  Case law
Official D.D.C. docket index Public filed copy of D.D.C. Doc. 1-2
7 months and 21 days later · 233 days
17 July 2019Ukraine
17 July 2019Ukraine
Ruling of the Kyiv Court of Appeal in case 824/66/19 dated 17 July 2019
Kyiv Court of Appeal
Case no.
824/66/19
Decision summary
Recognized the 26 November 2018 PCA Final Award and granted permission for its enforcement in Ukraine, including issuance of enforcement writs.
Supporting details
6 authorities
Kyiv Court of Appeal
Authorities cited
6
- Law of Ukraine on International Commercial Arbitration (arts. 35–36)
  Statute
- Civil Procedure Code of Ukraine (arts. 474–479)
  Statute
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958, arts. III–V)
  Treaty
- Law of Ukraine on Private International Law (art. 81)
  Statute
- European Convention on Human Rights (art. 6)
  Treaty
- European Convention on International Commercial Arbitration (1961, art. I(2)(a))
  Treaty
Official Ukrainian court register
3 months and 5 days later · 97 days
22 October 2019France
22 October 2019France
Procedural order of the Paris Court of Appeal in case RG 19/04161 dated 22 October 2019
Paris Court of Appeal, Pole 5, Chamber 16
Case no.
RG 19/04161
Decision summary
Rejected Russia's request to stay or adjust enforcement of the 26 November 2018 PCA Final Award and ordered Russia to pay EUR 8,000 in procedural costs.
Supporting details
3 authorities
Paris Court of Appeal, Pole 5, Chamber 16
Authorities cited
3
- French Code of Civil Procedure (arts. 902 and 1526)
  Statute
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958, art. V(1)(e))
  Treaty
- French Code of Civil Procedure (art. 700)
  Statute
Paris Court of Appeal case page
2 months and 1 day later · 62 days
23 December 2019France
23 December 2019France
Decision to stay the revision proceeding of the PCA Tribunal in Case No. 2016-14 dated 23 December 2019
Permanent Court of Arbitration
Award no.
PCA Case No. 2016-14
Decision summary
Stayed the revision proceeding pending the Paris Court of Appeal's decision on Russia's set-aside action against the Final Award.
Supporting details
3 authorities
Permanent Court of Arbitration
Authorities cited
3
- UNCITRAL Arbitration Rules (1976)
  Rules
- French Code of Civil Procedure (art. 1526)
  Statute
- JSC Oschadbank v. Russian Federation (Paris Court of Appeal, RG No. 19/04161, 30 March 2021)
  Case law
10 months and 18 days later · 323 days
10 November 2020Ukraine
10 November 2020Ukraine
Ruling of the Supreme Court of Ukraine in case 824/66/19 dated 10 November 2020
Supreme Court of Ukraine, Civil Cassation Court
Case no.
824/66/19; proceeding 61-14139av20
Decision summary
Returned a non-party appeal against the Kyiv enforcement ruling and rejected a non-party request to join that appeal.
Supporting details
4 authorities
Supreme Court of Ukraine, Civil Cassation Court
Authorities cited
4
- Civil Procedure Code of Ukraine (arts. 19, 23, 24, 42, 352, 357, 363 and 479)
  Statute
- Law of Ukraine on International Commercial Arbitration (arts. 35–36)
  Statute
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 1958, art. V)
  Treaty
- Civil Procedure Code of Ukraine (arts. 475, 476 and 478)
  Statute
Ukrainian court register record
22 days later · 22 days
2 December 2020Ukraine
2 December 2020Ukraine
Ruling of the Supreme Court of Ukraine in case 824/66/19 dated 2 December 2020
Supreme Court of Ukraine, Civil Cassation Court
Case no.
824/66/19; proceeding 61-17225av20
Decision summary
Closed the non-party appeal against the Kyiv enforcement ruling and restored the effect of the 17 July 2019 ruling.
Supporting details
2 authorities
Supreme Court of Ukraine, Civil Cassation Court
Authorities cited
2
- Civil Procedure Code of Ukraine (arts. 2, 359(4), 362(1)(3) and 479(7))
  Statute
- Civil Procedure Code of Ukraine (art. 362(1)(3))
  Statute
3 months and 28 days later · 118 days
30 March 2021France
30 March 2021France
Judgment of the Paris Court of Appeal in case RG 19/04161 dated 30 March 2021
Paris Court of Appeal, Pole 5, Chamber 16
Case no.
RG 19/04161
Decision summary
Annulled the 26 November 2018 PCA Final Award on the view that the temporal condition in the Russia-Ukraine investment treaty was not satisfied.
Supporting details
2 authorities
Paris Court of Appeal, Pole 5, Chamber 16
Authorities cited
2
- Agreement between the Russian Federation and Ukraine on the Encouragement and Reciprocal Protection of Investments (27 November 1998, Articles 1.1, 9, and 12)
  treaty
- French Code of Civil Procedure (Code of Civil Procedure of France, Articles 1520(1) and 700)
  statute
Official text of judgment Paris Court of Appeal case summary
1 month and 7 days later · 38 days
7 May 2021France
7 May 2021France
Decision extending the stay of the revision proceeding of the PCA Tribunal in Case No. 2016-14 dated 7 May 2021
Permanent Court of Arbitration
Award no.
PCA Case No. 2016-14
Decision summary
Extended the stay of the revision proceeding pending the French Cour de cassation's decision on the first Paris set-aside judgment.
Supporting details
3 authorities
Permanent Court of Arbitration
Authorities cited
3
- UNCITRAL Arbitration Rules (1976)
  Rules
- French Code of Civil Procedure (art. 1520)
  Statute
- JSC Oschadbank v. Russian Federation (Cour de cassation, pourvoi No. 21-15.390, 7 December 2022)
  Case law
1 year and 7 months later · 579 days
7 December 2022France
7 December 2022France
Judgment of the French Cour de cassation in pourvoi 21-15.390 dated 7 December 2022
French Cour de cassation, First Civil Chamber
Case no.
Pourvoi 21-15.390
Citation
Judgment no. 877 FP-B+R; ECLI:FR:CCASS:2022:C100877
Decision summary
Partially quashed the 30 March 2021 Paris judgment for treating the treaty's temporal condition as a jurisdictional restriction and remanded the case to the Paris Court of Appeal.
Supporting details
2 authorities
French Cour de cassation, First Civil Chamber
Authorities cited
2
- Agreement between the Russian Federation and Ukraine on the Encouragement and Reciprocal Protection of Investments (27 November 1998, Articles 1.1, 9, and 12)
  treaty
- French Code of Civil Procedure (Code of Civil Procedure of France, Articles 1520(1) and 700)
  statute
Official text of judgment Official English case summary
1 year and 4 days later · 369 days
11 December 2023France
11 December 2023France
Arbitral revision decision of the PCA Tribunal in Case No. 2016-14 dated 11 December 2023
Permanent Court of Arbitration
Award no.
PCA Case No. 2016-14
Decision summary
Granted Oschadbank's request and dismissed Russia's application for revision of the Final Award; costs were reserved.
Supporting details
4 authorities
Permanent Court of Arbitration
Authorities cited
4
- French Code of Civil Procedure (arts. 1502 and 595)
  Statute
- French Code of Civil Procedure (art. 1520)
  Statute
- JSC Oschadbank v. Russian Federation (Paris Court of Appeal, RG No. 19/04161, 30 March 2021)
  Case law
- JSC Oschadbank v. Russian Federation (Cour de cassation, pourvoi No. 21-15.390, 7 December 2022)
  Case law
Public filed copy of the revision decision
6 months and 8 days later · 191 days
19 June 2024France
19 June 2024France
Award on Costs and Respondent's Disclosure Request of the PCA Tribunal in Case No. 2016-14 dated 19 June 2024
Permanent Court of Arbitration
Award no.
PCA Case No. 2016-14
Decision summary
Ordered Russia to bear the arbitration costs, pay USD 85,672.76 in arbitration costs and USD 406,998.47 in legal fees and related expenses, and pay interest; dismissed Russia's disclosure request.
Supporting details
3 authorities
Permanent Court of Arbitration
Authorities cited
3
- UNCITRAL Arbitration Rules (1976, arts. 38–40)
  Rules
- French Code of Civil Procedure (arts. 696 and 700)
  Statute
- JSC Oschadbank v. Russian Federation (Paris Court of Appeal, RG No. 24/05331, 23 June 2026)
  Case law
6 months and 26 days later · 209 days
14 January 2025France
14 January 2025France
Procedural order of the Paris Court of Appeal in case RG 24/05331 dated 14 January 2025
Paris Court of Appeal, Pole 5, Chamber 16
Case no.
RG 24/05331
Decision summary
Addressed the admissibility of Russia's set-aside appeal against the 11 December 2023 arbitral revision decision.
Supporting details
2 authorities
Paris Court of Appeal, Pole 5, Chamber 16
Authorities cited
2
- Agreement between the Russian Federation and Ukraine on the Encouragement and Reciprocal Protection of Investments (27 November 1998, Articles 1.1, 9, and 12)
  treaty
- French Code of Civil Procedure (Code of Civil Procedure of France, Articles 1520(1) and 700)
  statute
Official text of procedural order
5 months and 17 days later · 168 days
1 July 2025France
1 July 2025France
Judgment of the Paris Court of Appeal in case RG 24/05336 dated 1 July 2025
Paris Court of Appeal, International Commercial Chamber, Pole 5, Chamber 16
Case no.
RG 24/05336
Decision summary
Rejected Russia's set-aside action against the 26 November 2018 PCA Final Award and confirmed the award's enforceability in France.
Supporting details
2 authorities
Paris Court of Appeal, International Commercial Chamber, Pole 5, Chamber 16
Authorities cited
2
- Agreement between the Russian Federation and Ukraine on the Encouragement and Reciprocal Protection of Investments (27 November 1998, Articles 1.1, 9, and 12)
  treaty
- French Code of Civil Procedure (Code of Civil Procedure of France, Articles 1520(1) and 700)
  statute
Official judgment page Official text export
6 months and 26 days later · 210 days
27 January 2026United States
27 January 2026United States
Order of the United States District Court for the District of Columbia in case 1:23-cv-00764 dated 27 January 2026
United States District Court for the District of Columbia
Case no.
1:23-cv-00764 (ACR)
Decision summary
Requested the United States' position on whether issue preclusion applies to FSIA jurisdictional questions and, if so, how it applies to foreign court decisions and the primary jurisdiction of the arbitral award.
Supporting details
3 authorities
United States District Court for the District of Columbia
Authorities cited
3
- United States Foreign Sovereign Immunities Act (28 U.S.C. sections 1605(a)(1), 1605(a)(6), 1605A, Sections 1605(a)(1) and 1605(a)(6))
  statute
- United States Federal Arbitration Act (9 U.S.C. section 207, Section 207)
  statute
- Convention on the Recognition and Enforcement of Foreign Arbitral Awards (New York, 10 June 1958, Article V)
  treaty
Official D.D.C. docket index
3 months and 2 days later · 92 days
29 April 2026United States
29 April 2026United States
Notice of Removal in the New York State Action dated 29 April 2026
United States District Court for the Southern District of New York
Case no.
1:26-cv-03549
Decision summary
The Russian Federation removed Oschadbank’s New York State Action from the Supreme Court of the State of New York, County of New York, Index No. 154401/2026, under the Foreign Sovereign Immunities Act.
Supporting details
4 authorities
United States District Court for the Southern District of New York
Authorities cited
4
- Foreign Sovereign Immunities Act (28 U.S.C. §§ 1330, 1603(a), 1608(a), 1391(f)(4), 1441(a), 1404(a) and 1406(a))
  Statute
- Argentine Republic v. Amerada Hess Shipping Corp. (488 U.S. 428, 443 (1989))
  Case law
- Silverstein v. Spark Therapeutics, Inc. (No. 24-CV-8517 (LAP), 2025 U.S. Dist. LEXIS 175203, at *5 (S.D.N.Y. Sept. 9, 2025))
  Case law
- Murphy Brothers, Inc. v. Michetti Pipe Stringing, Inc. (526 U.S. 344, 355 n.6 (1999))
  Case law
1 month and 25 days later · 55 days
23 June 2026France
23 June 2026France
Judgment of the Paris Court of Appeal in case RG 24/05331 dated 23 June 2026
Paris Court of Appeal, International Commercial Chamber, Pôle 5, Chamber 16
Case no.
RG 24/05331
Decision summary
Annulled the 11 December 2023 arbitral revision decision after finding that the tribunal was irregularly constituted because of a reasonable doubt about an arbitrator's impartiality.
Supporting details
5 authorities
Paris Court of Appeal, International Commercial Chamber, Pôle 5, Chamber 16
Authorities cited
5
- French Code of Civil Procedure (arts. 1466, 1506 and 1520(2))
  Statute
- UNCITRAL Arbitration Rules (art. 13(2))
  Rules
- UNCITRAL Code of Conduct for Arbitrators in International Investment Dispute Resolution (arts. 3 and 4(3))
  International law
- Hulley Enterprises Ltd. v. Russian Federation (D.C. Circuit Case No. 23-7174)
  Case law
- French Code of Civil Procedure (art. 700)
  Statute
23 June 2026France
23 June 2026France
Judgment of the Paris Court of Appeal in case RG 24/16339 dated 23 June 2026
Paris Court of Appeal, International Commercial Chamber, Pole 5, Chamber 16
Case no.
RG 24/16339
Decision summary
Annulled the 19 June 2024 PCA costs award as a necessary consequence of the annulment of the 11 December 2023 revision decision and ordered Oschadbank to pay EUR 50,000 under Article 700 of the French Code of Civil Procedure.
Supporting details
2 authorities
Paris Court of Appeal, International Commercial Chamber, Pole 5, Chamber 16
Authorities cited
2
- Agreement between the Russian Federation and Ukraine on the Encouragement and Reciprocal Protection of Investments (27 November 1998, Articles 1.1, 9, and 12)
  treaty
- French Code of Civil Procedure (Code of Civil Procedure of France, Articles 1520(1) and 700)
  statute
Official French judgment page
20 days later · 20 days
13 July 2026United Kingdom
13 July 2026United Kingdom
Consent order of the High Court of Justice of England and Wales in claim CL-2023-000502 dated 13 July 2026
High Court of Justice, Business and Property Courts of England and Wales, Commercial Court (KBD)
Case no.
CL-2023-000502
Decision summary
Vacated the 2026 directions hearing and stayed the English enforcement proceedings until Russia's cassation appeal against the 1 July 2025 Paris judgment is finally determined; each party had liberty to apply and there was no order as to costs.
Supporting details
4 authorities
High Court of Justice, Business and Property Courts of England and Wales, Commercial Court (KBD)
Authorities cited
4
- Arbitration Act 1996
  Statute
- State Immunity Act 1978
  Statute
- JSC Oschadbank v. Russian Federation (Paris Court of Appeal, RG No. 24/05336, 1 July 2025)
  Case law
- JSC Oschadbank v. Russian Federation (High Court of Justice, CL-2023-000502, 12 November 2024)
  Case law

Permanent Court of Arbitration

Permanent Court of Arbitration

Kyiv Court of Appeal

Paris Court of Appeal, Pole 5, Chamber 16

Permanent Court of Arbitration

Supreme Court of Ukraine, Civil Cassation Court

Supreme Court of Ukraine, Civil Cassation Court

Paris Court of Appeal, Pole 5, Chamber 16

Permanent Court of Arbitration

French Cour de cassation, First Civil Chamber

Permanent Court of Arbitration

Permanent Court of Arbitration

Paris Court of Appeal, Pole 5, Chamber 16

Paris Court of Appeal, International Commercial Chamber, Pole 5, Chamber 16

United States District Court for the District of Columbia

United States District Court for the Southern District of New York

Paris Court of Appeal, International Commercial Chamber, Pôle 5, Chamber 16

Paris Court of Appeal, International Commercial Chamber, Pole 5, Chamber 16

High Court of Justice, Business and Property Courts of England and Wales, Commercial Court (KBD)