SCM Group v Russia

At a glance

Parties

SCM Group / Rinat Akhmetov (Ukraine) v. the Russian Federation

Case no.

ICC Case No. XXXXX (number not disclosed)

Forum and rules

The case record lists it among ICC awards. The press release does not name the institution or the rules.

Treaty

Agreement between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on the Encouragement and Mutual Protection of Investments (Russia–Ukraine BIT)

Sector

Metals and mining, football, energy, real estate

Outcome

Only the claimant's announcement that it had started the arbitration is published. The documents do not show the outcome.

Amount

Full compensation for all losses since 2014 is sought. No figure is stated.

The dispute

The only published document is a press release from SCM Group. In it, the Ukrainian businessman Rinat Akhmetov, as an investor, announced arbitration proceedings against Russia. He claims compensation for interference with his business and for the expropriation of assets and investments in the Donetsk and Luhansk oblasts. He attributes these acts to the so-called "Donetsk People's Republic" and "Luhansk People's Republic", which the release says have acted under Russian direction or control since 2014. The assets belong to the SCM Group and span metals and mining, football, energy and real estate. They include Azovstal Iron & Steel Works in Mariupol and the Donbass Arena, which opened in 2009 and cost around $400mln to build. The claim is brought under the Russia–Ukraine investment treaty and focuses on Russia's conduct from 2014 to 2017 and onwards. The release does not set out Russia's position.

Key holdings

1. No decision has been published. The press release shows only that the claim was filed, under the Russia–Ukraine investment treaty, and that it covers losses in Donetsk and Luhansk oblasts from 2014 onwards. Press release, pp. 1–2
2. The release also states that SCM Group had already filed a separate application with the ECHR. That application concerns assets destroyed or seized after Russia's full-scale invasion of 24 February 2022. Press release, pp. 2–3

Procedural history

1. 11 April 2023SCM Group issues a press release announcing arbitration proceedings against Russia under the Russia–Ukraine investment treaty.

Keywords

• Rinat Akhmetov
• SCM Group
• Russia–Ukraine BIT
• Donetsk
• Luhansk
• Donbass
• Azovstal
• Donbass Arena
• expropriation
• attribution
• occupied territories
• armed conflict
• metals and mining
• European Court of Human Rights

Summary generated with AI from the published documents — refer to the award for the authoritative text.