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January 05, 2010

Yukos - Landmark Decision on the Energy Charter Treaty

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In a landmark decision rendered on November 30, 2009, an Arbitral Tribunal constituted pursuant to the Energy Charter Treaty and the UNCITRAL Arbitration Rules, and sitting in The Hague under the auspices of the Permanent Court of Arbitration, ruled that the Russian Federation is bound by the Energy Charter Treaty notwithstanding that it was never ratified by the Duma, by virtue of its provisional application of the Treaty.