Milletlerarası Yatırım Tahkiminde Kamulaştırma: Rusya-Ukrayna Sorunu Analizi

One of the common causes of disputes in international investment arbitration proceedings is the host state’s wrongful expropriation actions targeting foreign investors’ investments. Expropriation, while part of the sovereign powers of the state, involves an intervention in the investor’s property rights stemming from their investment and, if certain conditions are not met, may render the host state liable. However, in cases of annexation, occupation, or other border changes, claims arising from wrongful expropriations have become a particularly contentious issue within the field of investment arbitration, especially regarding the applicability of investment agreements. In this context, the Russia-Ukraine conflict, the annexation of Crimea, and the broad-scale invasion of Ukraine in 2022 have become processes with significant implications. In particular, the regional interpretation and application of the 1998 Russia-Ukraine Bilateral Investment Treaty in arbitration proceedings following the annexation of Crimea could set a precedent for other proceedings likely to arise from the invasion of Ukraine.

This study aims to examine the impact of the Russia-Ukraine conflict on international investment law, limited to expropriation issues. The objective of the study is to analyze investment arbitration disputes arising particularly from annexed regions, as well as how these proceedings are evaluated within the framework of the effective control concept and state sovereignty. In this regard, the study will first address the concept of expropriation in international investment law and the Russia-Ukraine Bilateral Investment Treaty; subsequently, it will discuss the investment disputes arising from the annexation of Crimea in the context of the Russia-Ukraine conflict, and finally, it will offer an evaluation of Russia’s 2022 invasion process.…

Keywords: Expropriation, annexation of Crimea, territory, region, effective control.…