Sovereignty over Crimea: A Case for State-To-State Investment Arbitration

Does Crimea now constitute a part of Russia or Ukraine? Although most states and commentators have sided with Ukraine, no international court or tribunal has yet to declare whether Crimea today constitutes Russian or Ukrainian territory under international law. This may be about to change. Ukrainian investors have instituted at least seven investor-state arbitrations against Russia, potentially allowing the tribunals to determine who has sovereignty over Crimea. The problem, however, is that Ukraine does not have a seat at the table. After examining Ukraine's current and prospective claims before the ECtHR, the ICJ, and an UNCLOS tribunal, this Comment proposes that Ukraine institute state-to-state investment arbitration proceedings against Russia.