Summary

In February 2005 Yukos' investors initiated official investment arbitration proceedings under Art. 26 of the Energy Charter Treaty. The claimants request that arbitration should take place according to the UNCITRAL arbitration rules as provided for in Art. 26 (4) b ECT. As the Russian Federation has signed, but not ratified the ECT so far, it applies the treaty on a provisional basis according to Art. 45 ECT. Due to this fact, the direct investor-state arbitration proceedings in Yukos' case begin in the ambiguous terrain of a provisionally applied ECT. The purpose of ...