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Violation of public order as a ground for refusing to recognize and enforce the decision of the international commercial arbitration

The author of the article summarizes at the doctrinal level the following issues regarding the recognition and enforcement of decisions of international commercial arbitration. In particular: (1) whether Ukraine’s public order will be violated by the recognition and enforcement of an international commercial arbitration award, imposed on the National Bank of Ukraine, which was not a party to the proceedings, as the State of Ukraine is represented by the Ministry of Justice of Ukraine; (2) whether the public order of Ukraine will be violated if the Budget of Ukraine incurring significant losses in connection with the recognition and enforcement of the decision of the international commercial arbitration; (3) under what conditions the recognition and enforcement of the decision of the international commercial arbitration should be considered as violating the public order of Ukraine.