The ICC and SIAC Receive Permanent Arbitration Institution Status in Russia

On 18 May 2021, the Russian Ministry of Justice granted the status of Permanent Arbitration Institution (PAI) to the ICC International Court of Arbitration (ICC) and the Singapore International Arbitration Centre (SIAC). This means that the ICC and SIAC now have the right to administer international commercial arbitrations and certain types of corporate disputes with respect to Russian companies.

Legislative reforms to Russian arbitration law introduced in 2016 mean that only PAIs can administer the majority of arbitrations seated in Russia and certain corporate arbitrations seated abroad. Following their successful registration in Russia, the ICC and SIAC have joined the Hong Kong International Arbitration Centre (HKIAC) and the Vienna International Arbitration Centre (VIAC), which secured their PAI status from the Russian Ministry of Justice in 2019.