Former CJI Chandrachud to be Russia’s arbitrator:Dispute with Ukraine’s state-owned bank; Russia accused of seizing assets

Russia has appointed former Chief Justice of India (CJI) D.Y. Chandrachud as its arbitrator in an international investment dispute involving Ukraine’s state-owned bank Oschadbank. According to a report by Bar Bench, the case is being heard under the bilateral investment treaty signed between Ukraine and Russia in 1998. Oschadbank says it lost its assets and business in the Donetsk, Luhansk, Kherson and Zaporizhzhia regions after Russia invaded Ukraine in 2022. The bank had branches, ATMs, offices, land and other business assets in these areas. After the Russian occupation, it could no longer use these assets. Many branches were closed, and the bank’s operations were severely affected. The bank says this caused major financial losses, for which it has claimed several hundred million dollars. Three-member Tribunal to hear the case Oschadbank sent Russia a notice of dispute in July 2025. After Russia did not respond, the bank began international arbitration proceedings. The case will be heard by a three-member tribunal. Chandrachud had rejected two Russian proposals Russia had previously approached D.Y. Chandrachud to act as its arbitrator in two major international investment disputes. According to the report, one case involved German energy company Wintershall Dea, which accused Russia of seizing its oil and gas projects in the country after the war in Ukraine, causing major financial losses. The second case involved Ukrainian state electricity transmission company Ukrenergo. The company alleges that its electricity-related assets in Russian-occupied areas were damaged or seized. Russia had asked Chandrachud to act as its arbitrator in both cases, but he did not accept the role. The final outcomes of both cases are still pending.