OWH SE IL v RTI LTD

[2026] EWHC 1015 (Comm), King's Bench Division, Commercial Court, Mrs Justice Dias, 1 May 2026

Arbitration – Public policy – Enforcement of award – Arbitration Act 1996, section 66

OWH, a German credit institution which was a subsidiary (99.39 per cent) of Russian Bank PJSC VTB, entered into a series of swap transactions carried out under the terms of an ISDA Master Agreement made in September 2019 with RTI, a subsidiary of Russian aluminium group Rusal.