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Common Statement of the AEB, CCI France Russie and CCE Regarding Courts Decision on Baring Vostok Case


The Association of European Businesses, The Franco-Russian Chamber of Commerce and Industry and the French Foreign Trade Advisors are disappointed with the verdict announced on August, 6 by the Meshansky court with regard to the Baring Vostok case and its defendants, who have been sentenced to various terms of suspended imprisonment.

We do not consider the punishment chosen for the defendants to be fair, because the measure has been adopted in the framework of the Criminal Code, whereas in our opinion, the case is a commercial dispute, which should have been resolved through civil proceedings, such as arbitration.

Members of our business communities also think that such a resonant case and the decision on it may cause serious damage to the Russian business climate, as it directly affects one of the most important requirements for the country's investment attractiveness - safety of doing business in the country by foreign entrepreneurs.

However, we have not given up our hope that the representatives of Baring Vostok and other foreign investors will not lose faith in the prospects of the Russian market and will continue to attract investments to Russia.