This November, courts refused to grant anti-action injunctions to the parties in several cases. For example, the Moscow District Court denied "Peresvet" Bank's request for an anti-suit injunction against proceedings in Cyprus, as two companies associated with Russia are involved in the case, one of which, Fonds Rusnano Capital S.A., has state participation (case No. A40-139350/2025).
The Court of Cassation pointed out that there is no evidence that the bank is under the sanctions, although its sole shareholder is subject to EU and US restrictions. In addition, it has not been proven that the bank has difficulties accessing justice in Cyprus: the dispute in the District Court of Nicosia has been ongoing since 2014, but "Peresvet" has only now decided to seek an anti-suit injunction. All this, according to the Moscow District Court, indicates attempts to delay the proceedings. Moreover, the court ruled that the application for an anti-suit injunction was aimed at preventing the state-owned enterprise's subsidiary from recovering its losses.
The Court of Cassation pointed out that there is no evidence that the bank is under the sanctions, although its sole shareholder is subject to EU and US restrictions. In addition, it has not been proven that the bank has difficulties accessing justice in Cyprus: the dispute in the District Court of Nicosia has been ongoing since 2014, but "Peresvet" has only now decided to seek an anti-suit injunction. All this, according to the Moscow District Court, indicates attempts to delay the proceedings. Moreover, the court ruled that the application for an anti-suit injunction was aimed at preventing the state-owned enterprise's subsidiary from recovering its losses.
Igor Sokolov, Senior Associate of Dispute Resolution at SL LEGAL, comments:
This cassation ruling demonstrates a departure from the widespread practice of issuing anti-claim injunctions at the request of virtually any Russian company directly or indirectly affected by foreign sanctions. However, the circumstances of the case and its participants make the logic behind this exceptional ruling understandable.
This ruling is unlikely to be a ‘turning point’ for the majority of cases. However, it may indicate the need for a thorough assessment of all the circumstances of a foreign dispute, its subject matter and the parties involved. Issuing an anti-suit injunction at the request of any Russian entity does not always serve the purposes of this institution.
The full digest (In Russian) is available here.
Contacts:
- Igor Sokolov, Senior Associate, igor.sokolov@sl-legal.ru