🇷🇺 🇨🇾 A Russian court, in case No. A40-279675/2024, has refused to recognize a judgment issued by a Cypriot court, which ordered a debtor to pay EUR 22 million to the applicant (a company). In addition to classical grounds—such as sanctions and references to the 1958 New York Convention—some new arguments have also emerged.

First, the applicant’s beneficiary is the subject of an international criminal arrest warrant. Therefore, in the court’s view, a judgment in favor of the company and its enforcement would result in the beneficiary’s enrichment, which would be contrary to public policy.

Second, the debtor accused the applicant of engaging in fraudulent transactions. According to the court, the applicant’s beneficiary should have appeared before the Russian court to testify regarding the circumstances of these transactions. #Cyprus

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