MOSCOW, April 9 (RAPSI) — Russian President Vladimir Putin has instructed the Ministry of Justice to sign on behalf of the Russian Federation the Convention on the Recognition and Enforcement of Foreign Judgments in Civil or Commercial Matters, the ministry's press service informs on Friday.
The Convention is intended to become the first universal international legal instrument that establishes clear and transparent rules for the cross-border recognition and enforcement of decisions of state courts. Until now, to create a legal basis for the mutual recognition of judgments, as a rule, it was required to have a separate bilateral agreement with each foreign state, the Ministry said in the statement.
The Ministry noted that Russia's accession to the Convention will create a reliable legal basis for the execution of decisions of Russian courts in all member states, while ensuring the guarantees of respect for state sovereignty enshrined in the document.
The convention was opened for signature on 2 July 2019 at the diplomatic session of the Hague Conference on Private International Law.