Onder 5.61. Rechtbank Den Haag 20 april 2016

For the same reason, concerning the interpretation of Articles 9 and 10 of the Law on Foreign Investments, no significance should be attached to the remarks, mentioned by the Tribunal, of Professor Yershov who was a member of the Russian delegation during the ECT negotiations. Incidentally, like the explanatory memorandum, he also concluded in very general terms only that “under the ECT, Russia grants foreign investors an energy investment regime acceptable to them that does not require any concessions on Russia’s part beyond the framework of current law”. In this context, significance should also not be attached to a statement by the expert of the Russian Federation, Professor Avakiyan who, according to the Tribunal had confirmed during his witness hearing to agree with the contents of the government’s explanatory memorandum. Aside from the fact that in the transcript of 17 November 2008 the court was unable to find such a statement, Avakiyan stressed that the explanatory memorandum reflects the viewpoint of the Russian government and that only the Duma can decide whether Russian legislation needs to be adjusted.

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