APPROACHES TO RESOLVING CONFLICTS OF LEGAL REGIMES IN THE PROTECTION OF INVESTMENTS DURING ARMED CONFLICTS

Abstract

The article examines the interaction between international investment law and international humanitarian law in the context of armed conflicts. It analyses the concept of lex specialis within both legal regimes and considers different approaches to determining their priority of application, namely international humanitarian law, international investment law, and the contextual approach. Particular attention is paid to the practical application of bilateral investment treaties in situations of military occupation of territory and to issues of state responsibility in such circumstances. The study highlights the challenges of protecting investments in contexts of occupation and frozen conflicts, as well as approaches to determining the legal status of investment assets (civilian or military), especially where the activities of an investment object are directed towards the production of dual-use goods. The article further examines arbitral decisions and scholarly opinions concerning the impact of armed conflicts on the operation of bilateral investment treaties. It emphasizes that an international armed conflict may be interpreted differently under the two regimes: as a regular normative condition in international humanitarian law, and as a circumstance of force majeure in international investment law. The necessity of adopting a flexible, contextual approach is underlined, one that simultaneously takes into account the objectives of both regimes (safeguarding investors’ rights under international investment law and ensuring compliance with states’ humanitarian obligations under international humanitarian law).