Denial of benefits clauses

In recent months, several investment treaty claims have been notified, and a few have already been initiated, based on measures taken in response to sanctions. These disputes concern both Western sanctions against entities allegedly connected to the Russian government, and various retaliation measures taken by the Russian government against entities from so-called “unfriendly jurisdictions”. One of these claims was brought by Fridman against Luxembourg (the first against the State) under the BLUE-Russia BIT. Given the broad scope and nature of sanctions, more claims will likely follow. Against this background, speakers will discuss different issues that can arise in the jurisdiction, merits and setting aside/enforcement phases of investment disputes triggered by sanctions, including denial of benefits clauses, the role of the police powers doctrine, essential security interests provisions and the law countermeasures as defences against sanctions, calculation of damages, the arbitrability of claims connected to sanctions and the attachment of assets against sanctioned States.