Russia Appoints DY Chandrachud as Arbitrator in Oschadbank Investment Treaty Arbitration
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TL;DR
- Russia appointed DY Chandrachud as its arbitrator.
- The matter concerns Oschadbank, Ukraine's state-owned bank.
- Dispute is under the 1998 Ukraine-Russia bilateral investment treaty.
- A three-member arbitral tribunal will hear the case.
Overview
Russia has selected former Chief Justice of India, DY Chandrachud, to act as its arbitrator in an international dispute with Ukraine's Oschadbank. The arbitration arises under the 1998 bilateral investment treaty between Russia and Ukraine, in relation to claims by the Ukrainian state-owned bank.
What Happened
DY Chandrachud, recently Chief Justice of the Supreme Court of India, has been appointed as Russia's nominee on the arbitral tribunal in a dispute with Ukraine's state-owned Oschadbank.
The dispute is being heard by a three-member tribunal constituted under the 1998 bilateral investment treaty between Russia and Ukraine.
Oschadbank has brought the investment arbitration against Russia, with the other tribunal members yet to be reported.
The arbitration concerns alleged violations by Russia of obligations under the investment treaty, although substantive details have not been disclosed in the current sources.
Context
DY Chandrachud is a prominent jurist who served as Chief Justice of India until his recent retirement.
Oschadbank is Ukraine's largest state-owned bank and has been involved in prior legal proceedings arising out of investments allegedly impacted by Russia's actions after the 2014 annexation of Crimea.
Arbitrations between Ukraine and Russia under bilateral investment treaties have become increasingly common following disputes linked to Crimea and asset expropriations.
Why It Matters
- The appointment of a former Indian Chief Justice underscores the high profile and international complexity of the proceedings.
- The arbitral process may clarify the legal responsibilities under the Russia-Ukraine investment treaty.
- This development forms part of the broader legal landscape surrounding post-2014 claims against Russia by Ukrainian entities.