The Federation Council called the 18th package of EU sanctions a blow to the system of international arbitration

The European Union (EU), by adopting the 18th package of anti-Russian sanctions, dealt a huge blow to the entire global arbitration court system. This was announced on July 18 by Konstantin Kosachev, Deputy Chairman of the Federation Council.

"As part of the 18th package of sanctions, the European Union is introducing another anti-legal initiative: this time, not to recognize the results of arbitration proceedings with Russian companies and individuals," he wrote on the Telegram channel.

Kosachev noted that if a Russian investor wins a dispute in international investment arbitration, but the decision contradicts the sanctions, it will not be enforced in the EU. The politician stressed that this approach legally violates human rights and discriminates on the basis of citizenship and nationality.

"The Europeans have dealt a huge blow to the entire global system of international arbitration that has been developing for centuries," he added.

According to Kosachev, businesses in other countries should think about such "arbitrariness" on the part of the EU.

We reached the barrel: The EU has agreed on the most widely publicized 18th package of sanctions

What measures, companies and banks are included in it, and why did Slovakia falter?

Earlier in the day, the head of European diplomacy, Kaya Kallas, announced that the permanent representatives of the EU countries had agreed on the 18th package of sanctions against Russia. The restrictions will affect the operation of the Nord Stream gas pipelines. The EU countries also agreed to lower the ceiling on oil prices from the Russian Federation.

In turn, Kremlin spokesman Dmitry Peskov said that Russia has acquired immunity to the sanctions that the EU is actively imposing.

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