Admission et protection des investissements étrangers à l’ère des sanctions européennes contre la Russie visant à protéger l’intégrité territoriale de l’Ukraine

Abstract

(Series Information) European Papers - A Journal on Law and Integration, 2023 8(2), 791-801 | European Forum Insight of 21 November 2023 | (Table of Contents) I. Introduction - II. L’admission des investissements étrangers via la pratique des visas et des passeports dorés - III. Risque de contentieux associé à l’adoption d’un régime de sanctions européennes - IV. Utilisation du régime de protection des investissements à des fins offensives - V. Conclusion | (Abstract) The intensification of restrictive measures adopted by the European Union and its member states in the wake of Russia's offensive in Ukraine raises the question of their interaction with legal regimes ap-plicable to foreign investments which follow diametrically opposed objectives. Indeed, recent trends show that foreign investment regimes, broadly defined therein as including domestic regimes for in-vestment admission as well as international investment agreements, offer advantages which can be construed as undermining the effectiveness of European sanctions. The practice of "golden passports" and the possibility that investment treaties be used to challenge the legality of restrictive measures are two examples. However, these possible inhibiting effects should not be overstated. Not only EU restric-tive measures are intended to comply with international agreements, but as previously shown in the context of the Ukraine Russia war, international investment agreements can be used to repair damages caused to investors during war time.

Keywords

• european sanctions
• golden visas
• golden passports
• foreign investments
• international investment agreements
• investment arbitration