The Expropriation of the Property of Foreign Investors in Private International Law

Abstract

The measures for are closely linked to the right of ownership of foreign investors, as well as providing guarantees of ownership rights to foreign investors, in some cases, there may be cases of seizure of their property and, therefore, foreign investors are in need of appropriate legal guarantees. The of the property of foreign persons is, on the one hand, the nature of public law and is, therefore, subject to regulation of public international law; on the other hand, the is also the institute of private international law, since the affects the rights of foreign natural and legal persons in the sphere of their private property. It should be noted that along with the concept of in legal doctrine, national legislation and international agreements, there is also a concept of nationalization. The Civil Code of the Russian Federation contains general provisions on and, thus, refers to a special law on governing the procedure for the of property, which has not yet been adopted. In this regard, it can be argued that, at present, in the legislation of the Russian Federation there is no procedure regulating in detail the of property, including foreign investors. In accordance with the doctrinal definitions of expropriation and nationalization, as well as on the basis of a literal interpretation of the definitions contained in multilateral agreements and bilateral agreements on promotion and mutual protection of investments, it can be concluded that expropriation and nationalization at the present stage of development of international investment relations is referred to as expropriation because, as a rule, international agreements do not distinguish between the concept of expropriation and nationalization and unite them under the common term is expropriation.