Abstract
The article considers the specifics of the application by international investment arbitrations of the rules on expropriation in accordance with the Energy Charter Treaty of 1996 and bilateral investment treaties. Examples are given of how disputes related to activities in the energy sector are protected from expropriation and state regulatory measures are qualified as direct and indirect expropriation. The criteria and reasons used by the arbitrators in determining whether the expro-priation constitutes a violation of international legal obligations by the host State, as well as determining the components and extent of the damage caused, are set out. Conclusions are drawn and recommendations are made regarding the legal support of the state policy in the energy sector to minimize the likelihood of liability for expropriation.
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