Barclays Bank PLC v VEB.RF

Barclays Bank PLC v VEB.RF

There is a valid arbitration agreement governed by English law, the Russian proceedings breach that agreement, no strong reasons exist to refuse relief, and the sanctions regime does not prevent substantive justice in England. Therefore, anti-suit and anti-enforcement injunctions are granted.

Parties
Claimant: Barclays Bank PLC; Defendant: VEB. RF
Jurisdiction
England and Wales
Judgment Date
26 November 2024
Procedural Posture
Application / Judgment on Without Notice Application for Anti Suit and Anti Enforcement Injunctions
Outcome
Application granted
Legal Topics
Anti Suit Injunction, Anti Enforcement Injunction, Arbitration Agreement, Jurisdiction, Sanctions Regime
International Commercial Law Arbitration Sanctions Anti Suit Injunction Anti Enforcement Injunction Arbitration Agreement Jurisdiction Sanctions Regime

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Parties

Barclays Bank PLC

Claimant

VEB. RF

Defendant

Procedural Posture

Application / Judgment on Without Notice Application for Anti Suit and Anti Enforcement Injunctions

Legal Issues

  1. 1 Whether an anti-suit injunction should be granted to restrain proceedings in Russia contrary to the arbitration agreement
  2. 2 Whether an anti-enforcement injunction should be granted to restrain enforcement of any Russian court judgment
  3. 3 Whether delay or progress in Russian proceedings precludes relief

Ratio Decidendi

There is a valid arbitration agreement governed by English law, the Russian proceedings breach that agreement, no strong reasons exist to refuse relief, and the sanctions regime does not prevent substantive justice in England. Therefore, anti-suit and anti-enforcement injunctions are granted.

Court Disposition

Application granted

Orders

  • Anti-suit injunction restraining respondent from pursuing Russian proceedings
  • Anti-enforcement injunction restraining respondent from enforcing any Russian court judgment in breach of the arbitration agreement