Russia Appoints Former CJI DY Chandrachud as Arbitrator in Oschadbank Dispute
Russia has appointed former CJI D.Y. Chandrachud as its arbitrator in an investment dispute involving Ukraine’s state-owned Oschadbank under the Ukraine-Russia investment treaty.
According to a report by Bar & Bench, the arbitration is being conducted under the 1998 bilateral investment treaty between Ukraine and Russia. The dispute concerns claims made by Oschadbank over the loss of its assets and business operations following Russia’s military action in Ukraine in 2022.
Oschadbank has alleged that it suffered significant losses in the Donetsk, Luhansk, Kherson and Zaporizhzhia regions, where it had branches, ATMs, offices, land and other business assets.
Following Russia’s occupation of territories in these regions, the Ukrainian bank says it was unable to access or operate many of these assets. Several branches were reportedly forced to shut down, disrupting the bank’s operations and resulting in substantial financial losses.
The appointment of Justice Chandrachud, who served as India’s 50th Chief Justice before retiring in November 2024, places him in the role of an arbitrator in the international investment proceedings.
The case is being pursued through the investment dispute resolution mechanism provided under the Ukraine-Russia bilateral investment agreement, with Oschadbank seeking compensation for the losses it claims to have suffered as a result of the conflict and occupation.
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