Author(s): Agnessa Inchakova, Svetlana Kazachenok
This paper deals with the impact of Russia’s accession to the World Trade Organization (WTO) on the Russian legal institutions. Russian Federation presents an example of the WTO impact on the developing economies. The International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation is the main legal institution in Russia, which is involved in the settlement of trade disputes. Following the country’s accession to the World Trade Organization, this institution is to comply with the WTO principles related to the settlement of trade disputes. The article provides analytical review as regards implementation of the WTO principles in the settlement of trade disputes in the International Commercial Arbitration Court at the Chamber of Commerce and Industry of the Russian Federation and the London Court of International Arbitration. The authors revealed shortcomings of the Russian arbitration system and ways of its improvement. The original recommendations are also applicable to other developing economies.