Vienna International Arbitration Center (VIAC) became the first European arbitral institution recongized by the Russian Ministry of Justice to administer Russia-related arbitrations

Vienna International Arbitration Center (VIAC) became the first European arbitral institution approved by the Russian Ministry of Justrice and capable to administer Russia-related disputes. For details see: https://www.viac.eu/de/ueber-uns/russische-lizenz.
As a result business got a reputable alternative to Hong-Kong International Arbitration Center (KHIAC), which was approved by the Russian Ministry of Justice earlier in 2019, and to Russian arbitral institutions.