The wave of cases
emerging from the sanctions and counter-sanctions imposed in the wake of
Russia’s full-scale invasion of Ukraine in 2022 is likely to bring back into
the spotlight the longstanding issue of the jurisdiction of arbitral tribunals
over claims for expropriation arising out of ISDS provisions that restrict
access to arbitration only to disputes concerning the amount of compensation
payable in case of expropriation. This article takes stock of the diverse case
law developed so far on the issue – arguably one of the most controversial and
divisive in investment law – and concludes that it remains far from settled,
perhaps even more so than before.