Acceso usuarios
Iurii Usmanov
, Yevhenii Kostyk, Tetiana Pikulia, Mykyta Artemchuk, Liudmyla Maliuga
This study examines how the transformation of international economic law principles under the influence of global crises affects the investment protection regime within the contemporary international legal order. The methodological framework combines legal analysis of international investment treaties, comparative assessment of pre-crisis and crisis-era approaches, and interpretive analysis of decisions rendered by international investment arbitration tribunals. The findings reveal a systemic shift in the regulatory logic of international investment law. In particular, the study demonstrates the institutionalization of the state’s right to regulate as an autonomous contractual principle and highlights the growing importance of environmental and public policy exceptions within the architecture of investment agreements. Furthermore, the analysis of arbitral practice indicates a movement away from an investor-centric model toward a more balanced and context-sensitive approach, in which investment protection is assessed alongside state regulatory sovereignty, especially in crisis conditions. These results suggest the emergence of a new model of the international investment regime, where the stability of investor rights is no longer absolute, but conditioned by the legitimate regulatory boundaries of the host state. The practical implications of the study lie in its potential application to the drafting and revision of investment treaties, as well as to law enforcement and arbitration practice in the context of global crises.
