Russia has reportedly appointed former Chief Justice of India DY Chandrachud as its arbitrator in an investment treaty dispute involving Ukraine’s state-owned Oschadbank, according to a report by Global Arbitration Review. The case concerns claims by the Ukrainian bank that it suffered substantial losses to assets and operations in territories affected by Russian military actions. The dispute is being handled by a three-member arbitral tribunal, with representatives appointed by both sides. Costa Rican arbitrator and former trade minister Dyalá Jiménez has been selected as the president of the tribunal.

According to the report, Jiménez was jointly chosen by Russia and Ukraine to lead the proceedings. Greece’s Stavros Brekoulakis, an arbitrator and professor at the National University of Singapore, has been appointed as the third member of the tribunal by Oschadbank. Chandrachud, who served as Chief Justice of India before retiring from the Supreme Court, has reportedly been appointed by Russia to represent its side on the tribunal. His selection comes in the context of international investment arbitration, where disputes between states and foreign investors can be examined by independent tribunals under the terms of applicable investment treaties.

The appointment does not imply a judicial role for Chandrachud in relation to the Russian or Ukrainian governments. Oschadbank claims that it lost assets and business operations in the Ukrainian regions of Donetsk, Luhansk, Kherson and Zaporizhzhia following Russian military actions. The bank has linked its losses particularly to Russia’s full-scale invasion of Ukraine, which began in February 2022. The territories named in the claim have been heavily affected by the conflict and have been at the centre of competing territorial claims between Moscow and Kyiv.

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The Ukrainian bank’s claim is reportedly valued at hundreds of millions of dollars. Oschadbank initiated arbitration proceedings after serving Russia with a notice of dispute in July 2025, according to the report. The bank alleges that the notice went unanswered, prompting it to proceed with the investment treaty arbitration process. Investment treaty disputes can involve claims relating to the treatment, protection and value of assets held by investors in another country. In this case, Oschadbank is seeking compensation for losses it says resulted from the destruction, seizure or loss of control of assets and operations following Russian military actions.

Russia’s position in the arbitration will be presented through the arbitrator it has appointed to the tribunal. The composition of the tribunal means the case will now proceed with one arbitrator selected by each side and a jointly selected president. Jiménez’s appointment as tribunal president provides a mutually agreed element to the panel, while Chandrachud and Brekoulakis represent the appointments made by Russia and Oschadbank respectively.

The dispute is part of a broader wave of international legal and arbitration proceedings arising from Russia’s military actions in Ukraine. Ukrainian state entities and private companies have pursued claims relating to losses incurred as a result of the conflict, while Russia has faced numerous legal challenges concerning assets and investments affected by the war. The Oschadbank case will now be examined by the three-member tribunal as the parties present their respective positions and evidence.

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