Russia Appoints Former Chief Justice D.Y. Chandrachud as Arbitrator Against Ukrainian Bank

Former Chief Justice of India D.Y. Chandrachud is set to be named the arbitrator representing Russia in the international arbitration initiated by Ukrainian state-owned lender Oschadbank, reports Bar and Bench quoting from Global Arbitration Review.

The controversy centers on Oschadbank's claim for loss of business and assets in the Donetsk, Luhansk, Kherson and Zaporizhzhia regions of Ukraine owing to Russia’s military intervention in Ukraine since 2022 full-scale invasion. The matter is being tried on the grounds of 1998 bilateral investment treaty between Russia and Ukraine with Oschadbank's claim reportedly amounting to hundreds of millions of dollars.

Arbitration proceedings were initiated by the Ukrainian bank after Russia reportedly ignored Oschadbank's notice of dispute sent in July 2025.

The tribunal will consist of three members of whom Costa Rican arbitrator and former trade minister Dyala Jimenez, jointly selected by Russia and Oschadbank, will preside over the tribunal. Greek arbitrator and National University of Singapore professor Stavros Brekoulakis was selected by Oschadbank to form the other third member of the tribunal. Chandrachud is among the arbitrators appointed by Russia.

It was months ago that Chandrachud had turned down invitations from Russia to serve as its arbitrator in disputes under separate treaties involving German energy corporation Wintershall Dea and Ukrainian state power transmission company Ukrenergo. The invitation was extended on the same day that Chandrachud was selected by the Permanent Court of Arbitration as the appointing authority in the Wintershall case. He had later withdrawn from that position upon discovering the communication.

Before retiring in November 2024, Chandrachud served as India's 50th Chief Justice. The involvement of Chandrachud in the Oschadbank dispute will mark the first time that he will work as an arbitrator for Russia in a case related to a war, after declining an invitation from Russia in a different case due to conflict of interest.