Current Issues of Private International Law

The paper is devoted to the analysis of current problems of Russian private international law that have arisen under the influence of unilateral coercive measures of unfriendly states and responsive counter-sanction mechanisms. The author examines the transformation of key institutions of private international law: application of foreign law and public policy exception, circumvention of the law, the personal law of legal entities, international settlements, corporate structuring, protection of foreign investments, recognition and enforcement of foreign judicial and arbitral awards, as well as the exclusive jurisdiction of Russian courts in disputes involving sanctioned persons. Particular attention is given to changing contractual practices, abandoning unreliable currencies and jurisdictions, reorienting foreign economic relations towards countries in the Asia-Pacific region, BRICS, Africa, and Latin America, developing settlements in national currencies, digital financial assets, and the use of alternative payment mechanisms. The need to adapt international legal and conflict of laws instruments to the new conditions of sanctions pressure is substantiated.

1. Kak tolkovat zapretitelnuyu normu reglamenta ES: mnenie yuristov // URL: https://pravo.ru/story/257917/.

2. Treasury Sanctions Major Russian Oil Companies, Calls on Moscow to Immediately Agree to Ceasefire // URL: https://home.treasury.gov/news/press-releases/sb0290.