Since the annexation of Crimea by the Russian Federation in 2014, a substantial number of investment claims, in particular expropriation claims, have been raised by Ukrainian nationals against the Russian Federation in relation to investments made in Crimea prior to the annexation. In this regard, a fundamental legal issue concerns the applicability of the Agreement…

After the 2014 Russian annexation of Crimea, the new local “authorities” have taken a number of privately and state-owned assets in the peninsula.  Ukrainian companies have commenced at least eight investment arbitrations against the Russian Federation under the Russia-Ukraine BIT (the “BIT”), seeking compensation for the lost property in Crimea.1) NJSC Naftogaz of Ukraine et…