Summary

I. INTRODUCTION

1. The Claimant (as defined in para. 10 below) submits the present Notice of Arbitration (the "Notice of Arbitration") against the Republic of Belarus in accordance with Articles 84-85 of the Protocol on Trade in Services, Incorporation, Activities and Investments (Annex 16) to the Treaty on the Eurasian Economic Union dated 29 May 2014[1] (the "Protocol No. 16 to the EEU Treaty") under Article 3 of the 2013 UNCITRAL Arbitration Rules[2] (the "UNCITRAL Arbitration Rules").

2. The Dispute between the Claimant and the Republic of Belarus (the "Dispute"), hereinafter collectively referred to as the "Parties", arose due to numerous violations by the Republic of Belarus of its international legal obligations and laws of the Republic of Belarus, which resulted in the Claimant's substantial damages.

3. In 2003, the Claimant and the Republic of Belarus entered into the Investment Contract (as defined in para. 66 below), pursuant to which the Claimant was authorized to construct a large buildings' complex in the center of Minsk.

4. Against the right to construct the above complex, the Claimant was to build up a number of communal facilities which the Republic of Belarus was to take ownership of subject to performance of the Claimant's obligations.

5. In implementation of the Investment Contract, the Republic of Belarus failed to render the required assistance, and in certain cases even directly created obstacles to the construction by failing to timely provide land plots, to timely issue the necessary permits and approvals and by imposing additional obligations, not covered by the Investment Contract, on the Claimant.

6. In 2014, the Investment Contract was terminated in the court proceedings as initiated by the Republic of Belarus.

7. As a result of such wrongful acts on the part of the Republic of Belarus in respect of the Claimant and its Investments, the Claimant incurred significant damages in the form of direct damage and lost profit.

8. The present arbitration was initiated under the provisions of Protocol No. 16 to the Treaty on the Eurasian Economic Union of 2014 and taking into account the provisions of national laws of the Republic of Belarus. 3

9. The Claimant reserves the rights to:

a. amend the claims made to any extent; and

b. make any additional submissions in the course of arbitration proceedings in order to (i) complete the claims against the Republic of Belarus and (ii) respond to any allegations and arguments brought in by the Republic of Belarus.

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[1] Exhibit CL-3. Protocol No. 16 to EEU Treaty, paragraphs 84-85. Exhibit C-1. Official website of the Eurasian Economic Commission, "The Treaty on the Eurasian Economic Union entered into force". // Available at: http://www.eurasiancommission.org/ru/nae/news/Pages/01-01-2015-1.aspx.

[2] Exhibit CL-4. 2013 UNCITRAL Arbitration Rules. // Available at: https://www.uncitral.org/pdf/english/texts/arbitration/arb-rules-2013/UNCITRAL-Arbitration-Rules-2013-e.pdf

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