News - International investment arbitration as weapon against Azerbaijan aggression

Since September 2020 to now, Azerbaijan has continued its barbaric attacks against Artsakh (Nagorno-Karabakh). Azerbaijan’s continuing acts of aggression have triggered a huge human rights, humanitarian, and displacement crisis that has the makings of the worst such catastrophe in recent European history, wrote Sargis Grigoryan, head of GPartners law firm. He added as follows: “There is evidence of egregious violations of international humanitarian law and the commission of war crimes. Equally, Azerbaijan’s war of aggression has caused severe damages and losses to Artsakh’s infrastructure and other sectors (energy, mining, telecommunication, banking etc.) where there were foreign investments. “Under international law, foreign investors are entitled to seek compensation for losses suffered due to Azerbaijan’s acts of aggression. These investors may bring international claims against Azerbaijan under several investment treaties (Azerbaijan has concluded 52 bilateral treaties and other multilateral agreements) to seek redress through investor-State arbitration. “On 02 October 2023, we have established the Investment Claims Initiative (ICI) which will examine and propose legal frameworks for the management of international investment claims against Azerbaijan. The ICI will cooperate with Georgetown Law and other institutions to study these claims in light of the principles and practices of international law. “The ICI is committed to hold the aggressor accountable for the horrors it has caused. “The ICI invites all foreign investors to present evidence to be able to establish the precise circumstances and concrete losses and damages caused to their investment. “The ICI will help address the realities of loss in the wake of the aggression and, while doing so, to promote justice at the international level.”