Sanctions against Individuals and Investment Law

Abstract The surge in international sanctions following Russia’s invasion of Ukraine in February 2022 marks a new development in international law in general and international investment law in particular. This article examines this recent development and the interplay between international sanctions and international investment law. Furthermore, the article discusses whether investment tribunals will rely on WTO jurisprudence when applying ‘essential security’ provisions in individual cases. By providing an examination of sanctions laws in the context of international investment law, the article highlights the complex dynamic between the right of states to limit investments on the basis of national security vis-á-vis the right of investors to enjoy investment protection as prescribed in numerous International Investment Agreements (IIAs).