Potential Claims for Compensation against Russia following its Invasion of Ukraine: Part III
Russia’s illegal invasion of Ukraine and the ensuing war has had profound humanitarian consequences affecting the lives of millions of people in Ukraine and Europe. At the same time, Russia’s actions are also having a profound economic effect on investors both within Ukraine and Russia. From the destruction of the Azovstal plant in the siege of Mariupol to the nationalisation of the assets of foreign businesses exiting Russia, the economic consequences of Russia’s illegal war are huge and require urgent reparation.
In this three-part series on potential claims arising out of Russia’s invasion of Ukraine which started on 24 February 2022, we examine and re-assess the various claims for financial compensation which investors in Ukraine and Russia may be able to bring against Russia. In Part I, we examined potential investment arbitration claims against Russia for damage caused on Ukrainian territory. Part II considered potential investment claims relating to measures taken against foreign investors in Russia. This Part III considers potential avenues for recourse against Russia outside of investment arbitration.