Yaroslav Klimov

Partner
Norton Rose Fulbright (Middle East) LLP

Dubai
United Arab Emirates
T:+971 52 957 3843
Dubai
United Arab Emirates
T:+971 52 957 3843
Yaroslav Klimov

Yaroslav Klimov

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Biography

Yaroslav Klimov is a litigation and disputes lawyer based in Dubai. He is highly regarded for dispute resolution, with significant experience in international arbitration, cross-border disputes and Russian litigation, and is often involved in high-profile disputes. Previously Yaroslav headed-up our Russia/CIS disputes practice for over a decade.

Yaroslav particularly focuses on international arbitration and has significant experience in construction and commercial disputes. He has represented clients' interests as counsel in more than 30 arbitration proceedings (for both claimants and defendants). In addition to his counsel work, he sits as an arbitrator in both domestic and international arbitration matters.

Yaroslav is listed as an arbitrator at various arbitral institutions: Hong Kong International Arbitration Centre (HKIAC), Singapore International Arbitration Centre (SIAC), London Court of International Arbitration (LCIA), Tashkent International Arbitration Centre (TIAC), Arbitration Center at the Russian Union of Industrialists and Entrepreneurs (RSPP), Arbitration Association (RAA) and others. He is also a member of the ICC Commission on International Arbitration.

Yaroslav has more than 25 years' experience in international and domestic dispute resolution, involving multiple jurisdictions, such as the UK, Ireland, the Netherlands, Hungary, Cyprus, and many others. He is also an experienced advocate and represents clients before local Russian courts: courts of general jurisdiction and state commercial courts.

He joined the firm in 2011, having previously worked for a major international law firm for 15 years.


Professional experience

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Law (Hons), Moscow State Institute of International Relations (MGIMO) 

Doctorate in Law, Institute of State and Law of the Russian Academy of Sciences

  • Advocate, qualified in Russia

Advising / representing / acting for:

  • Russian iron ore company - in an ICC construction arbitration seated in Singapore. The dispute against a major Chinese contractor arose out of multiple violations of the EPC Contract (governed by Russian law) by the Chinese side in the course of EPC construction project in the Eastern part of Russia. The claim amount is more than US $70m.
  • A leading Russian project management company - in the ICC construction arbitration in Geneva against a Spanish general contractor; the cross-border dispute with value over US$75m was connected with the modernization of the oil refinery plant in Russian Far East; the arbitration award in this complex dispute was issued in favour of our client.
  • A European leader in construction - as a claimant in the disputes versus Russian centre of new technologies and innovation for the recovery of unjust enrichment and damages; the case was heard by the Arbitrazh Court of Moscow.
  • The International finance corporation and successfully defending from being brought to subsidiary liability in the amount of US$55.7m in frame of bankruptcy proceedings of large Israeli chain of malls in DIY segment. The case had been heard in the Arbitrazh court of the city of Moscow.
  • A leading Russian bank - in a dispute against a major Italian energy trader and a holding company incorporated in the Bahamas. The dispute relates to recovery from the above companies of the amounts due to the bank guarantees issuance agreement and the deed of guarantee and indemnity to secure obligations under the guarantees issuance agreement. The amount of dispute exceeds €40m.
  • A Cyprus-based company which holds shares in a number of solar projects in Japan and other countries - in ICC arbitration and related court proceedings in the Netherlands and Cyprus; the dispute arising out of shareholders agreements exceeded €50m.
  • American multinational energy corporation - on various Russian law issues in frame of the corporate conflict in its Russian joint venture in the oil sector.
  • A major Japan-based energy company - in the consumers litigation proceedings regarding claiming damages for the alleged breach of consumers' rights.
  • A major air transport company - in connection with the court proceedings initiated by a bankruptcy administrator of a Russian Limited liability Company Vim Airlines before the Arbitrazh (state commercial) Court of the Republic of Tatarstan (Russia).
  • A Russian leading aircraft manufacturer - in LCIA arbitration against Irish airline company with respect to the termination of the aircraft's lease agreement. The claim amount exceeds US$200m.
  • A leading medical equipment manufacturer - with respect to anti-trust investigation initiated by Investigative Committee of Russia in Samara region against company's top-managers and employees.

Leading individual: Dispute resolution: arbitration and mediation, The Legal 500 EMEA, 2020-2021

  • "Yaroslav Klimov, head of NRF's dispute resolution practice in Russia and the CIS, is a dynamic partner who has the ability, confidence, experience and knowledge to run complex high-profile disputes."

Band 4, International and cross-border disputes, Russia, Chambers and Partners Global, 2021

  • "able to see and calculate various options for action, thus suggesting the best strategy for the client to resolve the dispute." 
  • "He is a very experienced gentleman, I have a high opinion of him."
  • "He's an excellent communicator and a calm and respectful person."

The Legal 500 Arbitration Powerlist: CIS and Caucasus, 2020

Lawdragon Global Litigation 500*, Lawdragon, 2021

Roster of International Arbitrators, 30th edition, May 2019

Ranked in Arbitration and Mediation, Best Lawyers, 2017-2022

Ranked in Litigation, Best Lawyers, 2017-2022

Leading Commercial Arbitration practitioner, Euromoney's Commercial Arbitration Expert Guide, 2021 (peer nominated)

Recommended lawyer: International arbitration, Pravo-300, 2021

*inaugural list

  • Russian
  • English
  • German
  • French