It has been reported that Carlsberg Group, a publicly-traded company based in Denmark, has had its subsidiary in St. Petersburg, Russia (Baltika Breweries) seized by the Federal Agency for State Property Management (Rosimushchestvo).
Given that Carlsberg was in the process of divesting the company to a potential buyer, but is now no longer able to do so, questions arise as to whether Carlsberg, as an investor in a third state, can be compensated for its loss, given the expropriation.
There is an EU legal aspect, and an international legal aspect. First, there is the EU-Russia Partnership and Cooperation Agreement (PCA) (1997), a mixed agreement by the EU and it’s Member States. Second, the is the Denmark-Russia Bilateral Invesment Treaty (1993).
For a helpful overview of the arising matters, see the neat summary by Lone Wandahl Mouyal in Børsen: https://lnkd.in/eREDdU-k (på dansk).
Graham Butler