Our Bureau
New Delhi
Former Chief Justice of India D.Y. Chandrachud has been appointed by Russia as its nominee on an international arbitration tribunal hearing a major investment dispute brought by Ukraine’s state-owned Oschadbank, according to reports citing the Global Arbitration Review. The case, arising from the Russia-Ukraine conflict, concerns assets and business operations that the Ukrainian bank says it lost following Russian military actions.
Chandrachud will serve on a three-member tribunal constituted under the 1998 bilateral investment treaty between Russia and Ukraine. Costa Rican arbitrator and former trade minister Dyalá Jiménez will preside over the proceedings after being jointly selected by the parties. Oschadbank has appointed Greek arbitrator and National University of Singapore professor Stavros Brekoulakis as its nominee.
The dispute relates to Oschadbank’s assets and operations in the Ukrainian regions of Donetsk, Luhansk, Kherson and Zaporizhzhia. The bank claims it suffered substantial losses to its investments following Russia’s military actions, particularly after Moscow launched its full-scale invasion of Ukraine in February 2022. The claim is understood to be worth hundreds of millions of dollars.
The arbitration was formally initiated after Oschadbank sent Russia a notice of dispute in July 2025, reportedly without receiving a response. The proceedings subsequently moved forward under the investment treaty’s dispute-resolution provisions.
Chandrachud’s appointment adds an Indian legal figure with extensive judicial experience to a high-profile international dispute. He served as India’s 50th Chief Justice from November 2022 until his retirement in November 2024. His new role comes amid continuing legal and diplomatic disputes linked to the Russia-Ukraine war.
The arbitration will determine the competing claims under the applicable investment treaty framework, separately from the broader political and military issues surrounding the conflict.