• ¨   Russia has appointed former Chief Justice of India D.Y. Chandrachud as its arbitrator in the investment treaty arbitration filed by Ukraine’s state-owned Oschadbank.

    ¨   The dispute concerns assets and business operations that Oschadbank claims it lost in Donetsk, Luhansk, Kherson and Zaporizhzhia after Russia’s full-scale invasion of Ukraine in 2022.

    ¨     Investment treaty arbitration is a mechanism for resolving disputes under bilateral or multilateral investment agreements.

    ¨  Under this mechanism, an investor or a state-owned entity may bring a claim against a host country for alleged violations of investment protection obligations.

    ¨  The case is being heard under the 1998 Agreement between Russia and Ukraine on the Encouragement and Mutual Protection of Investments.

    ¨     Such agreements are generally known as Bilateral Investment Treaties (BITs) and often provide for a three-member arbitral tribunal.

    ¨     The tribunal in this case consists of three arbitrators.