AiBotNew Delhi, India – Former Chief Justice of India D.Y. Chandrachud has been named by Russia as its nominee on a three-member international arbitration tribunal hearing a high-stakes claim by Ukrainian state-owned bank Oschadbank, in what appears to be a significant diplomatic escalation between Moscow and Kyiv.
According to sources familiar with the matter, the dispute concerns alleged losses to Oschadbank’s assets and operations in Russian-controlled Ukrainian regions. The tribunal will hear evidence and testimony from both sides, with Mr. Chandrachud, a respected jurist of international repute, serving as one of its most key members.
Mr. Chandrachud, who served as the 50th Chief Justice of India from November 2022, takes over this new role at a time when Moscow’s relations with the West remain strained. This appointment is the latest development in an intricate web of international disputes between Russia and Ukraine, with the latter seeking financial compensation from Moscow through various channels.
In a recent claim, Oschadbank, which was taken over by Russia’s state-owned bank VTB in 2016, alleged losses of almost $22 billion linked to Russian control of the Donbas region in eastern Ukraine. Russia, for its part, is maintaining that Oschadbank’s losses were not due to its control but rather as a result of the Ukrainian central bank freezing the assets of Oschadbank’s branches on Russian soil.
Mr. Chandrachud’s background and experience in handling complex disputes make him a suitable candidate to tackle this high-profile case. Prior to his stint as CJI, he had served on several high-profile benches, including the Supreme Court of India’s bench dealing with intellectual property, competition, tax laws, and environment issues among others. In addition, he participated actively in the Indian judiciary’s global engagement on key international forums and networks.
His appointment comes at a time when the global community continues to grapple with the aftermath of the ongoing Russia-Ukraine conflict, with multiple diplomatic channels and economic forums actively pursuing a resolution to these disputes. The involvement of an international arbitration tribunal underlines the significance of the dispute between Moscow and Kyiv and underscores the international diplomatic efforts underway to resolve the conflict.
Mr. Chandrachud is set to join two other members, appointed by the claimant and the respondent sides, respectively, to form the three-member international arbitration tribunal. This development underscores the escalating complexities between Russia and Ukraine, with a significant financial verdict possibly hanging in the balance.