CIS Legal Update - May 2013: Russia and the United Arab Emirates Take Measures to Encourage and Improve Investment Security

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Russia ratified an intergovernmental Agreement with the United Arab Emirates (hereinafter - UAE) on the Encouragement and Mutual Security of Investments (executed on June, 28, 2010) along with the accompanying Protocol attaché. This Agreement constitutes the first bilateral investment treaty between the two countries.

The Agreement outlines measures for equal treatment for Russian and UAE investments including those originating from third-party investors. At the same time, the Agreements provide both countries with the right to set forth exemptions.

Moreover, the Agreement outlines measures for protecting investors from the compulsory seizure of their investments, while also establishing a legal framework for dispute resolution with respect to investments.

The Agreement will cover investments executed as far back as January 1, 1987, but will only deal with disputes that have arisen since it was ratified into force.

This article was written by Elizaveta Molosnova, a paralegal in the Moscow office. If you have questions or for more information, please contact her at +7 499 922 11 72; elizaveta.molosnova@dechert.com.

 

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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