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.