Former CJI DY Chandrachud Appointed Russia’s Arbitrator In Ukraine Bank Dispute

Russia has appointed former Chief Justice of India DY Chandrachud as its arbitrator in an investment treaty dispute filed by Ukraine’s state-owned Oschadbank, according to a report by Global Arbitration Review.

The dispute is being heard by a three-member arbitral tribunal under the 1998 Russia-Ukraine bilateral investment treaty.

Costa Rican arbitrator and former trade Minister Dyalá Jiménez and Greek arbitrator and National University of Singapore professor Stavros Brekoulakis now serve as the tribunal’s president and Oschadbank’s appointee, respectively.

Oschadbank’s claim concerns assets and operations in Donetsk, Luhansk, Kherson and Zaporizhzhia, which the Ukrainian state-owned bank says it lost following Russia’s military actions after the 2022 invasion.

Oschadbank sent Russia a notice of dispute in July 2025, which it says went unanswered.

The bank formally commenced the new arbitration in April 2026 under the countries’ investment protection agreement.

The dispute is separate from Oschadbank’s earlier arbitration concerning its assets in Crimea following Russia’s 2014 annexation. That case resulted in an award of about $1.1 billion, including interest and arbitration costs, although Russia did not participate in the proceedings.

Chandrachud had previously declined approaches to serve as Russia’s arbitrator in treaty disputes involving German energy company Wintershall Dea and Ukrainian energy company Ukrenergo.

The Permanent Court of Arbitration designated him as an appointing authority in the Wintershall proceedings, but he later withdrew after disclosing Russia’s approach.

Former Chief Justice of India’s acceptance of the Oschadbank appointment therefore marks a significant change from his earlier position.

The tribunal will now hear the investment dispute amid broader litigation arising from Russia’s military actions and the loss of Ukrainian businesses and assets in Russian-controlled territories.

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