Rosneft manages to dispute decision of international arbitration court

For the first time in many years, the Russian company has managed to overturn the decision of the Stockholm arbitration, which is one of the main places of commercial disputes with foreign contractors for the Russian big business. As the Kommersant has got to know, Rosneft was able to avoid paying $173 million to American First National Petroleum (FNP): Sweden's Court of Appeal overturned the decision of the arbitration court. Lawyers point out that such cases are extremely rare – in about 5% of cases - and this situation can only enhance the credibility of Stockholm as a place of disputes resolution.

On June 25, Swedish Court of Appeals upheld the complaint of Tyumenneftegaz (was an asset of BP-TNK, since in 2013 is a part of Rosneft) and reversed the decision of the arbitration in Stockholm to collect $ 73 million from the Russian company in favor of the American First National Petroleum. This information was  confirmed by Jonas Eklund of law firm Vinge, which represented the interests of Tyumenneftegaz in the Swedish court. Rosneft declined to comment.