Supreme Court dismisses appeal and upholds anti-suit injunction to discontinue Russian proceedings (UniCredit Bank GmbH v RusChemAlliance LLC)

Article summary

The Supreme Court has dismissed RusChemAlliance’s (RCA) appeal and has upheld the anti-suit injunction (ASI) granted by the Court of Appeal on 29 January 2024. The injunction prevents RCA from continuing its claim against UniCredit in Russia. The Supreme Court gave the decision before releasing the judgment as parallel arbitration proceedings in Russia were adjourned until 6 May 2024 allowing the UK Supreme Court time to give its decision. The full judgment will follow in due course. Matthew Weiniger KC, partner and global chair of International Arbitration at Linklaters and Karris Graham-Moore, International Arbitration Managing Associate at Linklaters and Jennifer Haywood, Serle Court, discuss the implications of the decision.