What happened
In November 2023, the Russian company Agerratum LLC won a dispute against a Chinese company at the ICAC at the Russian Chamber of Commerce and Industry. A Chinese court recognized and enforced the ICAC award. The court also noted that China’s reservations to the 1958 New York Convention had not been infringed: the dispute was commercial, and Russia observes reciprocity in recognizing arbitral awards with respect to China.
Why it is notable
The Chinese court took a pro-arbitration approach and did not stand in the way of satisfying the Russian company’s claims. This approach makes the handling of disputes involving Russian companies in Chinese courts more predictable and confirms that their claims against Chinese counterparties are enforceable.