Recital 15

(15) In 2020, Russia introduced new provisions in its Arbitration Procedure Code with the purpose of ensuring, unless otherwise established by an international treaty of Russia or by agreement of the parties, the exclusive competence of courts in Russia in disputes with the participation of persons in respect of which restrictive measures are applied or in disputes of one Russian or foreign person with another Russian or foreign person, if the basis for such disputes is restrictive measures. Such legislation, which has been extensively applied by Russian courts, has the clear objective or effect of forcing the satisfaction of claims against assets of Union companies in a foreign jurisdiction, claims which they would otherwise be prohibited from satisfying pursuant to Regulation (EU) No 833/2014 or Council Regulation (EU) No 269/2014 (5). Consequently, with a view to increasing the costs on the Russian Federation of its illegal actions in Ukraine, and determining it to end such actions, Decision (CFSP) 2024/1744 enables the possibility to subject companies which make use of those provisions of Russian law to a transaction ban.

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Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.