The role of ISDS in the Russian–Ukrainian conflict

Hajdu, Gábor (2023) The role of ISDS in the Russian–Ukrainian conflict. HUNGARIAN JOURNAL OF LEGAL STUDIES, 64 (4). pp. 489-507. ISSN 2498-5473

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Abstract

Investor-State Dispute Settlement (ISDS) has long served as an effective remedy for disputes between foreign investors and host states. In the context of the Russian–Ukrainian conflict, ISDS has gained particular prominence as a potential tool for advancing the legal claims of private persons even in wartime or otherwise hostile situations. In particular, we had a slew of ISDS cases between Ukrainian investors and Russia, especially in relation to Crimea. This has also raised a number of questions regarding territory and annexation within the context of international law, which the arbitration tribunals had to address. The purpose of this study was to evaluate the utility of ISDS for enforcing private claims in wartime, and to assess the judgments of the arbitration tribunals, with the addition of Russian ISDS cases against Ukraine as well, to serve as a contrast.

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