Russia appointed former Chief Justice of India DY Chandrachud as its arbitrator in an investment treaty dispute with Ukrainian state-owned Oschadbank.
Costa Rican arbitrator and former trade minister Dyalá Jiménez will preside over the three-member tribunal handling the high-stakes dispute.
Ukrainian state-owned Oschadbank selected Greek arbitrator Stavros Brekoulakis, a professor at the National University of Singapore, for its side.
Russia Turns To Former CJI DY Chandrachud In High-Stakes Ukraine Dispute
Russia has appointed former Chief Justice of India DY Chandrachud as its arbitrator in a major investment treaty dispute filed by Ukrainian state-owned Oschadbank.
Summary
Russia has appointed former Chief Justice of India DY Chandrachud as its arbitrator in an investment treaty dispute filed by Ukrainian state-owned Oschadbank. The conflict is being heard under a 1998 bilateral investment treaty signed by Ukraine and Russia.
Costa Rican arbitrator and former trade minister Dyalá Jiménez will preside over the three-member tribunal, Global Arbitration Review reported. Both conflicting parties jointly selected Jiménez to lead the proceedings.
Oschadbank selected Greek arbitrator Stavros Brekoulakis for its side of the panel. Brekoulakis serves as a professor at the National University of Singapore.
Assets Lost In Conflict
The financial stakes are high. Oschadbank's claim is estimated to be worth hundreds of millions of dollars.
The state bank seeks compensation for operations and assets lost across Donetsk, Luhansk, Kherson and Zaporizhzhia. These losses allegedly occurred following the full-scale Russian invasion in 2022, according to Bar and Bench.
Proceedings began after Russia ignored formal legal communications. Oschadbank served a notice of dispute on Moscow in July 2025, which reportedly went unanswered.
Previous Arbitration Declinations
Chandrachud previously rejected similar roles. Russia had earlier approached him to act as its arbitrator for treaty claims initiated by Wintershall Dea and Ukrenergo.
Moscow made those requests on the exact day the Permanent Court of Arbitration designated him as the appointing authority in the Wintershall matter. Chandrachud subsequently stepped down from that position after disclosing the Russian communications.
Two law firms represent Oschadbank in the current dispute. The team includes Quinn Emanuel Urquhart & Sullivan partners Epaminontas Triantafilou and Alex Gerbi, alongside Asters partners Oleksiy Didkovskiy, Andrii Pozhidayev and Oksana Legka.
Pinna Goldberg represents Russia. Partner Andrea Pinna, counsel Pratyush Panjwani and senior associate Dimitrios Papageorgiou lead the defence.
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