In 2025, Russia signed three new BITs: with China (in force), Congo and Myanmar (signed but not in force). These BITs share a number of distinctive features compared to the previous generation of Russia’s BITs, and they largely copy the BIT Guidelines adopted by the Government of Russia in 2016. The implemented changes also suggest … Continued

International arbitration has become the preferred method of resolving complex cross-border disputes. For businesses operating globally, it offers a flexible, confidential, and enforceable alternative to traditional litigation. However, while the concept of arbitration is widely understood, the reality is far more nuanced. The strategic decisions made before and during proceedings can have a significant impact … Continued

Sanctions, Russian countermeasures, anti-suit, anti-arbitration and anti-enforcement injunctions have been discussed at the HKA event “Damages, Sanctions, and Justice in a Fractured World” at the inaugural London Arbitration Week. From the outset, it was noted that only 1.2% of all sanctions are issued by the UN Security Council. Sanctions in relation to the most sanctioned … Continued

One of the earliest and most influential examples of inter-state arbitration — the Alabama Claims case between the United States and the United Kingdom — remains a cornerstone of modern international dispute settlement. By choosing arbitration over confrontation, both states reinforced the value of an international order that prioritises legal resolution over power politics — … Continued

An interesting judgment involving a Russian party, sanctions and a mid-proceedings change of lawyers This blogpost concerns an English High Court judgment handed down on 21 October 2025 by Mr Justice Bright in the case JSC Kazan Oil Plant v. Aves Trade DMCC [2025] EWHC 2713 (Comm). Background The claimant, JSC Kazan Oil Plant (“Claimant”), … Continued

There is a growing trend of Russian (or former Russian) investors commencing investor-state proceedings against European and North American countries. These disputes relate to alleged expropriation or significant impairment of investors’ assets by the relevant states under the pretext of unilateral coercive measures (sanctions) or other confiscatory measures. To that extent, earlier this autumn, four … Continued

The ADC et al v. Hungary (Award, 2 October 2006) remains one of the often-cited investor-state arbitration cases on unlawful expropriation. The tribunal found multiple treaty breaches, from lack of due process to absence of compensation, and applied the Chorzów Factory rationale to determine damages. One of the important features of the case was that … Continued

When does an expropriation become unlawful under public international law? A key question for tribunals is whether failure to compensate renders an expropriation unlawful per se and warrants the award of damages, or whether such failure can be remedied through subsequent compensation. The distinction affects the applicable standard of compensation and the valuation date. The … Continued

With any investor-State arbitration, the valuation of damages plays a critical role in determining the financial outcome of the parties’ dispute. Different tribunals apply varying economic and legal methodologies, often balancing compensation principles with issues of causation and foreseeability. Discussions amongst leading arbitrators, counsel and experts have highlighted the increasing sophistication of these approaches and … Continued

A recent empirical study of 170 annulment proceedings in domestic courts, in conjunction with a previous analysis of ICSID annulment proceedings, has provided valuable insights into how investor-State arbitration awards fare under the scrutiny of domestic courts. An ICSID award can be annulled by an ad hoc committee under one of five grounds laid down … Continued

English court finds that a party did take part in the arbitration proceedings and, on that ground, dismisses the s.72 challenge to the Arbitral Award. In the case A&N Seaways and Projects PVT Limited v Allianz Bulk Carriers DMCC [2025] EWHC 2126 (Comm) (Judgment of 13 August 2025), two main issues were considered by the English … Continued