Work

United Kingdom Imposes Sanctions on Roman Abramovich's Assets: Is It an Indirect Expropriation?

Year: 2024

Type: article

Abstract: The asset freeze imposed by the United Kingdom(UK) on Roman Abramovich raises a critical legal issue regarding its classification as indirect expropriation under international investment law. A legal gap exists in interpreting economic sanctions as acts of indirect expropriation, particularly their compatibility with protections provided under Bilateral Investment Treaties (BITs). The research addresses whether such sanctions constitute unlawful indirect expropriation and examines the protection of Abramovich’s rights as a foreign investor under international law. Using a normative juridical approach, the analysis draws on international treaties, arbitration case law, and BIT provisions between Russia Federation and the United Kingdom. Findings indicate that the sanctions meet the criteria for indirect expropriation, causing substantial economic loss and disruption to Abramovich’s investments, including Chelsea FC. This paper contributes to the discourse on balancing state sovereignty, regulatory powers, and investor protections, offering insights into the broader implications of politically motivated actions on foreign investments.

Source: Kanun Jurnal Ilmu Hukum

DOI: 10.24815/kanun.v26i3.39515

Authors: Patrick Owen, Prita Amalia, Purnama Trisnamansyah

Institution: Padjadjaran University

Language: English

Topic: International Arbitration and Investment Law

Subfield: Strategy and Management

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: gold

Estimated APC paid: $26