Russia has reportedly appointed former Chief Justice of India (CJI) DY Chandrachud as its arbitrator in an funding treaty dispute with Ukraine’s state-owned financial institution, Oschadbank.
Price Rican arbitrator and former commerce minister Dyalá Jiménez has been chosen to preside over the three-member tribunal, International Arbitration Overview reported.
Jiménez was collectively chosen as President by each Russia and Ukraine.
Stavros Brekoulakis, a Greek arbitrator and professor on the Nationwide College of Singapore, has been appointed because the third arbitrator by Ukraine’s Oschadbank.
What the Ukraine financial institution claims
Oschadbank claims that it misplaced property and operations within the areas of Donetsk, Luhansk, Kherson, and Zaporizhzhia after Russian navy actions in Ukraine, particularly after Moscow’s full-scale invasion of Kyiv in February 2022.
Oschadbank’s declare is reportedly value a whole lot of tens of millions of {dollars}.
The Ukrainian financial institution initiated the arbitration proceedings after a discover of dispute served to Russia in July 2025 allegedly went unanswered.
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The arbitration has been initiated in accordance with the 1998 bilateral funding treaty between Ukraine and Russia, the report mentioned.
Russia is represented by Pinna Goldberg accomplice Andrea Pinna, counsel Pratyush Panjwani and senior affiliate Dimitrios Papageorgiou.
However, Ukraine’s Oschadbank is represented by Quinn Emanuel Urquhart & Sullivan companions, Epaminontas Triantafilou and Alex Gerbi, together with Asters companions Oleksiy Didkovskiy, Andrii Pozhidayev and Oksana Legka.
Russia-Ukraine funding treaty dispute
Oschadbank had earlier pursued Russia for losses in Crimea after Moscow annexed the territory in 2014.
The Ukrainian financial institution was awarded roughly US$1.1 billion by a Paris-seated tribunal, fashioned below the UNCITRAL Arbitration Guidelines, in 2018.
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Nonetheless, the award has been the topic of extended proceedings earlier than the courts in France.
In 2021, the award was put aside after a French court docket accepted Russia’s argument that the treaty’s provide to arbitrate utilized solely to investments made after the opening of Oschadbank’s Crimean department, reported LiveLaw Enterprise.
The very subsequent yr, the French Courtroom of Cassation reinstated the award, stating that the French courts couldn’t overview the related provision.
In 2023 and 2024, the Paris-seated tribunal issued two additional choices, rejecting Russia’s request to revise the award on the idea of recent proof. The tribunal reportedly directed Moscow to bear the prices of the revision proceedings.
Not too long ago, the Paris Courtroom of Enchantment annulled the tribunal’s resolution on Russia’s request to revise the award, and the associated fee order. It is because the court docket discovered that an amicus curiae transient, co-signed by arbitrator Charles Brower, created affordable doubts about his equity.
Subsequently, Russia’s revision request stays undecided, with the necessity for a recent arbitral tribunal’s adjudication.
Russia approached Chandrachud earlier as nicely
Notably, Justice Chandrachud was beforehand approached by Russia to function its arbitrator in treaty claims introduced by German power firm, Wintershall Dea.
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The German firm had initiated the arbitration proceedings towards Russia below the Power Constitution Treaty, Bar and Bench beforehand reported.
Nonetheless, Chandrachud had declined the approaches, as they have been made on the identical day that the Everlasting Courtroom of Arbitration designated him because the appointing authority within the Wintershall proceedings.
Chandrachud later stepped down from the appointing authority function after disclosing the communications with Russia.
